A new report by the International Air Transport Association (IATA) said African airlines’ cargo volumes decreased by 1.5% in May 2022 due to several factors, including geopolitical stress caused by the ongoing war in Ukraine.
Apparently, the war in Ukraine specifically affected cargo capacity in Europe. And that’s due to the fact that many Russian and Ukrainian airlines, who are typically major cargo players, were unable to freight much during the period under review.
Also, there was significant decrease across all markets in May with regards to new export orders, except for China. And this was due to the lifting of Omicron lockdown measures.
“African airlines saw cargo volumes decrease by 1.5% in May 2022 compared to May 2021. This was significantly slower than the growth recorded the previous month (6.3%). Capacity was 3.0% above May 2021 levels,” explained part of the report which was seen by Business Insider Africa.
Below are the cargo performance reports for other regions of the world
Asia-Pacific airlines saw their air cargo volumes decrease by 6.6% in May 2022 compared to the same month in 2021.
North American carriers posted a 5.7% decrease in cargo volumes in May 2022 compared to May 2021.
European carriers saw a 14.6% decrease in cargo volumes in May 2022 compared to the same month in 2021.
Middle Eastern carriers experienced a 11.6% year-on-year decrease in cargo volumes in May.
Lastly, Latin American carriers recorded the strongest growth of 13.8% in cargo volumes in May, compared to May 2021.
Do note that air cargo volume basically entails the volume of freight (including express and diplomatic bags) which an airline carries on every flight from point of takeoff to its next landing. Air cargo volumes are typically measured in metric tonnes multiplied by the kilometers travelled.
SOURCE: BUSINESS INSIDER AFRICA
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