Global air cargo market demand almost back in line with 2022 levels

The global air cargo market has continued to see strengthening demand during July 2023, according to data released by the IATA. After a disappointing start to the year, IATA has found that air cargo demand has almost reached 2022 levels, sitting just 0.8% behind the level of demand in July 2022. DG Willie Walsh said that compared to the data for June, which showed demand was 3.4% below 2022 levels, the latest findings were a “significant improvement” and continued the strengthening trend that began in February. However, he also added that the industry would need to watch carefully to see how the trend could evolve over the rest of the year: “Many fundamental drivers of air cargo demand, such as trade volumes and export orders, remain weak or are deteriorating. And there are growing concerns over how China’s economy is developing. At the same time, we are seeing shorter delivery times, which is normally a sign of increasing economic activity. Amid these mixed signals, strengthening demand gives us good reason to be cautiously optimistic.”<br/>