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Aircraft and transport. IATA: cargo demand softens in September

Oil prices remained stable

The International Air Transport Association (IATA) released data for September 2022 global air cargo markets showing that air cargo demand softened. 

Global demand, measured in cargo tonne-kilometers (CTKs), fell 10.6% compared to September 2021 (-10.6% also for international operations), but continued to track at near pre-pandemic levels (-3.6%). 

Capacity was 2.4% above September 2021 (+5.0% for international operations) but still 7.4% below September 2019 levels (-8.1% for international operations).

Several factors in the operating environment should be noted:

Following contractions across major economies, the global Purchasing Managers Index (PMI) for new export orders also contracted (for a third month in a row) to its lowest level in two years.

Latest global goods trade figures showed a 5.2% expansion in August, a positive sign for the global economy. This is expected to primarily benefit maritime cargo, with a slight boost to air cargo as well.

Oil prices remained stable in September and the jet fuel crack spread fell from a peak in June.

The Consumer Price Index stabilized in G7 countries in September, but at a decades high level of 7.7%. Inflation in producer (input) prices slowed to 13.7% in August.

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AVIONEWS - World Aeronautical Press Agency