Middle East 2022 Air Cargo Demand Marginally Below Pre-Pandemic Levels: IATA
According the latest figures released by The International Air Transport Association (IATA), Middle Eastern carriers reported a decrease of 10.7% for global and international demand in 2022 compared to 2021 and an increase in capacity of 4.3% (+4.5% for international operations).
Compared to 2019 (pre-COVID levels), demand was 1.6% below for global and international operations and capacity was down 6.3% (-6.1% for international operations).
In December airlines in the region posted a 14.4% decrease in demand for both global and international operations compared to 2021. Capacity increased 2.8% (+3.0% for international operations) during the same period.
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Globally, full-year demand in 2022 was down 8.0% compared to 2021 (-8.2% for international operations). Compared to 2019, it was down 1.6% (both global and international).
Capacity in 2022 was 3.0% above 2021 (+4.5% for international operations). Compared to 2019 (pre-COVID) levels, capacity declined by 8.2% (-9.0% for international operations).
December saw a softening in performance: global demand was 15.3% below 2021 levels (-15.8% for international operations). Monthly cargo demand tracked below 2021 levels from March 2022.
Willie Walsh, IATA’s Director General said: “In the face of significant political and economic uncertainties, air cargo performance declined compared to the extraordinary levels of 2021. That brought air cargo demand to1.6% below 2019 (pre-pandemic) levels.
"The continuing measures by key governments to fight inflation by cooling economies are expected to result in a further decline in cargo volumes in 2023 to -5.6% compared to 2019. It will, however, take time for these measures to bite into cargo rates.
"So, the good news for air cargo is that average yields and total revenue for 2023 should remain well above what they were pre-pandemic. That should provide some respite in what is likely to be a challenging trading environment in the year ahead.”
