After recovering from the disruption fueled by the pandemic, the global air cargo market has continued its steady climb back to pre-pandemic levels as capacity returned to the markets and stress on supply chains witnessed in the last two years have eased. What is undeniable however is the impact of e-commerce on the air cargo industry and how its demand is creating an urgent need for air cargo players to accelerate their digital and sustainable transformation and develop collaborative business models to sustain this growth. However, even with strong demand from e-commerce coupled with the current stressors of the current geopolitical climate, the ongoing Russia-Ukraine war, surging oil prices, and the surge of Omicron cases in China affect and alter heavy air freight capacity remains to be seen.
AIR CARGO CAPACITY & DEMAND
According to the latest figures by The International Air Transport Association (IATA), global demand that is measured in cargo tonne-kilometers (CTKs) in January 2022 was up 2.7% compared to January 2021 (3.2% for international operations). However, this was significantly lower than the 9.3% growth seen in December 2021 (1% for international operations) which meant that the air cargo growth continued in January 2022 but at a slower pace.
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