African airlines reported a decrease in demand of 1.4% for global and international cargo in 2022 compared to 2021 and an increase in capacity of 0.3% (-0.2% for international operations), the International Air Transport Association (IATA) released data for global air freight markets shows.
Compared to 2019 (pre-COVID levels), demand was 8.3% above (+9.4% for international operations) and capacity was down 15.3% (-14.2% for international operations).
According to the data, in December, airlines in the region posted a 10% decrease in demand for both global and international operations compared to 2021, while capacity grew 1.3% (+0.2% for international operations) during the same period.
Meanwhile, IATA noted that globally 2022 full-year demand for air cargo took a significant step back from 2021 levels but was close to 2019 performance.
“In the face of significant political and economic uncertainties, air cargo performance declined compared to the extraordinary levels of 2021. That brought air cargo demand to 1.6% below 2019 (pre-pandemic) levels. The continuing measures by key governments to fight inflation by cooling economies are expected to result in a further decline in cargo volumes in 2023 to -5.6% compared to 2019. It will, however, take time for these measures to bite into cargo rates. So, the good news for air cargo is that average yields and total revenue for 2023 should remain well above what they were pre-pandemic. That should provide some respite in what is likely to be a challenging trading environment in the year ahead,” said Willie Walsh, IATA’s Director General.
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