Global air cargo tonnages stage slow recovery, but still lag far behind
Tonnage carried in October 2023 was just 1% less than October 2022, for smallest gap so far this year, WorldACD says
Global air cargo tonnages stabilized in October, closing their lag behind last year’s numbers to within just 1% less than October 2022, according to the latest figures from WorldACD.
That difference of -1% in October is the smallest year-on-year drop recorded so far this year, narrowing from a year-on-year decline of -10% in the first quarter, -6% in the second quarter and -3% in the third quarter of the year.
But while that trend is heading in the right direction from air freight carriers’ point of view, tonnage amounts are still far below their levels from past years. Tonnages in October 2022 had experienced a double-digit percentage decline (-13%) compared with those of October 2021, heralding a non-existent peak season last winter.
Likewise, tonnages for the full year in 2022 were around -6% below the (near-record) full-year figures for 2021, and just slightly above (+2%) those in 2016. And looking ahead, full-year figures for 2023 are set to be significantly below (around -5%) last year’s levels.