Air cargo demand rose 1.9% in September

The International Air Transport Association (IATA) has revealed the latest air cargo data on global markets for September 2023, showing a continued recovery in demand.

  • Global demand measured by freight tonne kilometers increased by 1.9% compared to September 2022 levels (+1.6% for international operations)..
  • Capacity, measured in freight tons per kilometer, increased by 12.1% compared to September 2022 (+11.0% for international operations). The growth is related to international capacity, which rose 31.5% year-on-year as airlines expand operations to meet peak demand during the Northern Hemisphere summer travel season.

Major factors affecting the level of air cargo demand include the following:

Manufacturing PMI (49.7) and New Export Orders PMI (47.7) were both recorded in September, a slight improvement from the previous month. However, it remains below the critical 50-point threshold, which indicates a continued, but slightly slower, annual decline in global production and exports..

Global cross-border trade fell for a fifth straight month in August, down 3.8% year-on-year, reflecting a cooler global macroeconomic environment..

Annual growth in US CPI in September was 3.7%, the same rate as in August. Consumer price index inflation in Europe and Japan declined by 1.0 and 0.2 percentage points, respectively, to 4.9% and 3.0% respectively. In China, policy measures aimed at combating deflation saw the consumer price index rise by 0.1% annually.%.

Average September jet fuel prices were $131.0 per barrel, representing a 43.1% increase over May 2023 prices. The recovery of some of this additional cost from the September surcharge contributed to the first increase in air cargo revenue since November 2022.

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And he said Willie Walsh, Director General, International Air Transport Association (IATA): “Despite lower trade volumes and higher jet fuel prices, air cargo posted modest growth (1.9%) in September, clearly demonstrating the strength of air cargo’s value proposition. With key export orders and manufacturing PMIs moving closer to positive territory, we can say. We “end the year We are cautiously optimistic about a strong peak season.”

Regional performance for the month of September

Registered airlines Asia Pacific A 7.7% increase in air cargo volumes in September 2023 compared to the same month in 2022. This was an improvement in performance compared to August (+4.6%), as airlines in the region benefited from growth in three key trade corridors: Europe-Asia (+9.6%), Middle East-Asia (+7.0%), and Africa-Asia (+ 12.8%), and available capacity for airlines in the region increased by 30.5% compared to September 2022. Capacity reserved for air cargo on passenger flights (a year ago key Asian markets such as Japan and China were subject to severe travel restrictions due to the pandemic).

Registered airlines North America A weak performance in September, with a 2.2% decline in inventory levels. (-1.4%) decreased compared to August. Although the trade corridor between North America and Asia narrowed (from -4.3% in August to -1.8% in September), the North American and European markets were flat for the second month in a row (-2.5%), and carriers, notably, increased capacity by 0.2% compared to September 2022. Moderately increased.

And I signed up European airlines A 1.5% decline in air cargo volumes in September compared to the same month in 2022. This is an underperformance compared to the previous month of August (-0.6%). European market (-5.7% in September). Gains were offset by the expansion of the trade corridor between the Middle East and Europe (+3.3% in September compared to +0.5% in August), compared to -5.2% in August. There is some decline in efficiency within Europe and capacity increased by 4.7% in September 2023 compared to 2022.

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And I signed up Airlines in the Middle East Strong performance in September 2023, with a 2.5% year-on-year increase in inventory volumes, an improvement on the previous month’s performance (+1.3%). Transport companies in the region benefited from growth in the Middle East and Asia markets (+7.0%) and Middle East and Europe markets (+3.3%), and capacity increased by 16.1% compared to September 2022.

And I signed up Airlines in Latin America 2.3% increase in inventory levels compared to September 2022. This is considered significantly lower in performance compared to the previous August (+6.2%), and capacity increased by 14.4% in September compared to the same month in 2022.

When I registered African airlines Despite strong growth in demand on the Africa-Asia trade route (+12.8%), air cargo volumes declined by 0.1% in September 2023. This is considered an improvement in performance compared to August (-3.5%). Capacity was 2.7% above September 2022 levels.

Check out the Air Cargo Industry Analysis for September

#Corporate Data

-I finish-

  • Nadia Barnett

    "Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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