Travel Industry News at TravelNewsAsia.com since 1997
Thu, 7 April 2022

Global Air Cargo Growth Continues in February

(07 Apr 2022, 12:23 +07)  The latest data from IATA shows that global air cargo market demand increased in February despite a challenging operating backdrop.

Several factors benefitted air cargo during the month when compared to January. On the demand side, manufacturing activity ramped-up quickly after the early February Lunar New Year holiday. Capacity was positively influenced by the general and progressive relaxation of COVID19 travel restrictions, reduced flight cancellations due to Omicron-related factors (outside of Asia), and fewer winter weather operational disruptions.

Global demand, measured in cargo tonne-kilometers (CTKs), was up 2.9% compared to February 2021 (2.5% for international operations).

Adjusting the comparison for the impact of the Lunar New Year (which can cause volatility in reporting) by averaging January’s and February’s performance, demand increased 2.7% year-on-year. While cargo volumes continued to rise, the growth rate decelerated from the 8.7% year-on-year expansion in December.

Cathay Pacific Boeing 747F taking off from HKG. Picture by Steven Howard of TravelNewsAsia.com Click to enlarge.
Cathay Pacific Boeing 747F taking off from HKG. Picture by Steven Howard of TravelNewsAsia.com

Capacity was 12.5% above February 2021 (8.9% for international operations) and although this is in positive territory, compared to pre-COVID19 levels, capacity remains constrained, 5.6% below February 2019.

Several factors in the operating environment should be noted:

- General consumer price inflation for the G7 countries was at 6.3% year-on-year in February 2022, the highest since late 1982. While inflation normally curtails purchasing power this is balanced against higher savings levels coming out of the pandemic.

- The Purchasing Managers’ Index (PMI) indicator tracking global new export orders fell to 48.2 in March. This was the lowest since July 2020 indicating that a majority of surveyed businesses reported a fall in new export orders.

- The zero-COVID policy in mainland China and Hong Kong continues to create supply chain disruptions as a result of flight cancellations due to labor shortages, and because many manufacturers cannot operate normally.

The impact of Russia’s invasion of Ukraine had limited effect globally on February’s performance as it occurred very near the end of the month. The negative impact of war and related sanctions (particularly higher energy costs and reduced trade) will become more visible from March.

“Demand for air cargo continued to expand despite growing challenges in the trading environment. That is not likely to be the case in March as the economic consequences of the war in Ukraine take hold. Sanction-related shifts in manufacturing and economic activity, rising oil prices and geopolitical uncertainty will take their toll on air cargo’s performance,” said Willie Walsh, IATA’s Director General.

Asia-Pacific airlines saw their air cargo volumes increase 3% in February 2022 compared to the same month in 2021. Available capacity in the region was up 15.5% compared to February 2021, however it remains heavily constrained compared to pre-COVID19 levels, down 14.6% compared to February 2019. The zero-COVID policy in mainland China and Hong Kong is impacting performance.

North American carriers posted a 6.1% increase in cargo volumes in February 2022 compared to February 2021. The ramp up of manufacturing activity in China following the end of the Lunar New Year resulted in growth in the Asia–North America market, with seasonally adjusted volumes rising by 4.3% in February. Capacity was up 13.4% compared to February 2021.

European carriers saw a 2.2% increase in cargo volumes in February 2022 compared to the same month in 2021. This was slower than the previous month (6.4%), partially attributable to the war in Ukraine which started at the end of the month. Seasonally adjusted demand on the Asia- Europe route, one of the most affected by the conflict decreased by 2% month on month. Capacity was up 10% in February 2022 compared to February 2021, and down 11.1% compared to pre-crisis levels (2019).

Middle Eastern carriers experienced a 5.3% year-on-year decrease in cargo volumes in February. This was the weakest performance of all regions, which was owing to a deterioration in traffic on several key routes such as Middle East-Asia, and Middle East-North America. Looking forward, there are signs of improvement as data indicate that the region is likely to benefit from traffic being redirected to avoid flying over Russia. Capacity was up 7.2% compared to February 2021.

Latin American carriers reported an increase of 21.2% in cargo volumes in February 2022 compared to the 2021 period. This was the strongest performance of all regions. Some of the largest airlines in the region are benefitting from the end of bankruptcy procedures. Capacity in February was up 18.9% compared to the same month in 2021.

African airlines saw cargo volumes increase by 4.6% in February 2022 compared to February 2021. Capacity was 8.2% above February 2021 levels.

See also: Exclusive Travel Industry Interview with Kurt Ekert, President of Sabre.

Headlines: Korean Air to Resume More Flights; Increase Services to Select Destinations  WestJet Appoints APG as Representative in South Korea; Airline to Launch YYC-ICN Flights in May  Courtyard by Marriott Hotel Opens in Fukui, Japan  Rolls-Royce to Expand Engine Build and Services Capacity in UK and Germany  United Airlines to Launch Los Angeles - Shanghai Flights; Increase LAX - HKG Service  Nine Exclusive HD Video Interviews from Routes Asia 2024 in Langkawi, Malaysia  AirAsia X Launches Direct Flights Between Kuala Lumpur and Almaty, Kazakhstan  Singapore Airlines Revamps Premium Economy Class with New Menu and Amenity Kit  Amadeus Completes Acquisition of Voxel  Minor to Rebrand NH Museum Quarter Hotel in Amsterdam, Netherlands  U-Tapao Airport (UTP) in Rayong / Pattaya, Thailand - HD Video Interview with Ampika Chadawong  IndiGo to Launch Flights Between Mumbai and Colombo, Sri Lanka  Perth Airport (PER) in Western Australia - HD Video Interview with Stephanie Juszkiewicz  China Airlines to Launch Flights Between Taipei and Seattle, USA  TUMI Launches Capsule Collection in Partnership with NEOM McLaren Extreme E Team  AirAsia Malaysia to Resume Flights Between Kuala Lumpur and Pattaya, Thailand  Thai Airways to Launch Flights from Bangkok to Colombo, Kochi and Perth  Munich Airport (MUC) in Bavaria, Germany - HD Video Interview with Michael Haeffner  Japan Tourism, World Expo 2025 and Japan Expo 2025 - HD Video Interview with Akira Watabe of JNTO  BBN Airlines Indonesia Receives Additional AOC from DGCA  Vietnam Airlines to Launch Flights from HAN and SGN to Munich Airport in Bavaria, Germany  Sabre Launches Booking Solution for New and Independent Travel Consultants  AirAsia Malaysia Launches A321neo Flights Between Kuala Lumpur and Perth, Australia  Saudi Arabia's Air Connectivity Program - HD Video Interview with Rashed Alshammari, Vice President Commercial  Lui Chong Chee to Succeed Bob Tan as Chairman of the Boards of CapitaLand Ascott Trust  Sabah Tourism Board - HD Video Interview with Julinus Jeffery Jimit, Chief Executive Officer  Berlin Airport (BER) - HD Video Interview with Simon Miller, Senior Manager Market Intelligence  IndiGo to Launch Flights Between Chandigarh and Dharamshala, India  Skyco Partners Airbus; Orders Six H175 Helicopters  Jumeirah Appoints Michael Grieve as Chief Brand Officer  Cam Ranh Airport (CXR) in Nha Trang, Vietnam - HD Video Interview with Le Thi Hong Minh  Mercure Langkawi Pantai Cenang - HD Video Interview with Hotel GM, Jasmine Keh  Courtyard by Marriott Phnom Penh Appoints Lenen Mar Porras as ADOSM  United Confirms Flights to Cebu, Philippines as Airline Expands Network  Jumeirah Soft Opens First Hotel in Saudi Arabia  IHG Signs Two Luxury Hotels in KAFD Riyadh, Saudi Arabia  Qatar Airways' NDC Content Now Available on Travelport+  Estelle Vassallo Moves to Italy as GM of Anantara Convento di Amalfi Grand Hotel  Aviation: International RPK Up 20.8% in January 2024  Amora Completes Refurbishment and Rebranding of Hotel in Brisbane, Australia  Scoot Unveils Embraer E190-E2 Routes  IndiGo to Launch Flights from Jagdalpur to Hyderabad and Raipur  Jazeera Airways Appoints Barathan Pasupathi as CEO  Marriott Signs Le Meridien Hotel in Zanzibar  IATA Reports Air Cargo Data for January 2024  BFS Receives GDP Certification for Dedicated Pharma Handling Facility at BKK  Solomon Islands Welcomed 26,036 Visitors in 2023; Positive Outlook for 2024  Vietjet Signs MOU with Airbus for 20 A330-900 Aircraft  Hong Kong Airport Reports January 2024 Passenger and Cargo Numbers  Malaysia Aviation Group Becomes Official Airline Partner of MATTA Fair 2024  AirAsia Malaysia Launches Flights Between Kota Kinabalu and Shanghai, China  Taiwan's Starlux Airlines Orders Five Airbus A350 Freighters and Three A330neos  United Airlines to Resume Flights to Tel Aviv, Israel  Hahnair Appoints Stephen Chung as Regional Vice President Asia Pacific  Korean Air Cargo Expands Partnership with Vienna Airport  IndiGo to Launch Daily Flights Between Bengaluru and Bali, Indonesia  Thai Airways Confirms Boeing 787-9 Order  SkyScape Becomes Eve Air Mobility's First Urban ATM Customer in Japan  Royal Brunei Airlines Orders Four Boeing 787-9 Aircraft  TransNusa Airlines Rebranding as a Premium Service Carrier  Moxy Hotel Opens in Bangkok, Thailand  Peninsula Bangkok Appoints Masahisa Oba as Managing Director  Silk Avia Takes Delivery of First New ATR 72-600 Turboprop Aircraft in Central Asia  Korean Air to Enhance Retailing Strategy with Accelya's FLX Platform  Rohit Pandey Returns to Minor as GM of the Anantara Jaipur Hotel  Marriott Soft Opens First Moxy Hotel in Malaysia  AirAsia X to Launch Flights Between Kuala Lumpur and Almaty, Kazakhstan on 14 March  Malaysia Airlines Opens Ticketing Outlet at Paradigm Mall in Petaling Jaya  Marriott Expands Apartments with Properties Signed in Italy, USA and Saudi Arabia  Stockholders of Hawaiian Holdings Vote to Adopt Merger Agreement with Alaska Airlines  Thailand Travel Mart Plus (TTM+) 2024 Opens Online Registration for Buyers and Sellers  Lore Group's Five Design-Led Hotels Join Global Hotel Alliance  Hilton Partners Small Luxury Hotels of the World  British Airways Using E-Logs Platform to Predict and Enhance Aircraft Maintenance Issues  Surf Air Mobility Secures Early Delivery Positions for 90 Electra eSTOL Aircraft  Nine Exclusive Video Interviews with VIPs at ASEAN Tourism Forum 2024 in Vientiane, Laos  Thai Airways to Unveil Details of Boeing Aircraft Order at Singapore Air Show 2024  Hong Kong Reports Provisional Visitor Arrival Numbers for January 2024  Accor Hotels in New Zealand to Become Gold Standard Sustainable Tourism Businesses  American Express Opens World's Largest Centurion Lounge at ATL Airport in USA  Minor Hotels Reports Record Full Year Figures  Korean Air's Acquisition of Asiana Gets Conditional Clearance from European Commission  CapitaLand Establishes CLARA Fund II; Acquires Two lyf-Branded Properties as Seed Assets  ATR Receives B-Score from CDP Climate Change  Dassault to Showcase Falcon 6X and Falcon 2000LXS at the Singapore Air Show 2024  IHG's Expanding Hotel Portfolio in Vientiane - Interview with Murali Viswanathan, CGM  Settha Palace Hotel in Vientiane, Laos - Interview with Hala Krimi, General Manager  Vietjet Launches Flights Between Saigon and Chengdu, China  Inthira Vang Vieng Hotel in Laos - Interview with Charles-David Hay, General Manager  IHG Hotels at Dubai Festival City Appoints Pranav Vohra as Cluster Commercial Director  S Vang Vieng Boutique Hotel in Laos - Interview with Sengnikone Bouphaphanh  Full Moon Island Resort in Kaoh Sdach, Cambodia - Interview with Indra Khanitha Lay Prohas  Jetstar Launches Flights from Brisbane to Osaka and Seoul  IHG to Expand Six Senses Brand to Kyoto, Japan  DiscoverLaos - HD Video Interview with Southisack Sayasavanh, Tours Director  Cosi Vientiane Nam Phu Hotel - Interview with Pasin Nopsuwan, General Manager  Hyatt Expands JdV Brand of Hotels to Goa, India  Thailand to See Increase in Chinese New Year Tourism Spend  Lao Airlines - Exclusive Video Interview with Chanthanon Khampheng at ATF 2024  Dansavanh Nam Ngum Resort in Laos - Interview with Michelle Wang, Travel Director  Marriott Hotel Opens on Gurney Drive in Penang, Malaysia  Emirates to Increase Capacity on Flights to Osaka, Japan  Michelle Lee Joins Pullman Bangkok Hotel G as General Manager  Rosewood Makes Changes to Senior Management Team  Smiths Detection to Upgrade Security at Fukuoka Airport in Japan  Standard to Open Residences in Hua Hin and Phuket, Thailand; Video Interview with Amar Lalvani  AirAsia Indonesia Launches Flights Between Jakarta and Kota Kinabalu, Malaysia  Philippine Airlines to Deploy Amadeus Traveler DNA  Mantra Club Croc Airlie Beach Completes A$8 Million Refurbishment of All 160 Guestrooms  Vietjet Wet Leases Two Aircraft to Meet Surge in Lunar New Year Travel Demand  Singapore Cruise Centre to Upgrade Tanah Merah Ferry Terminal  IHG Signs New-Build 150-Key Holiday Inn Hotel in Guwahati, India  Thai AirAsia Launches Flights from Bangkok (DMK) to Shanghai and Kaohsiung  TFE Signs New-Build Apartment Hotel in Brisbane, Australia  Ritz-Carlton Hotel Opens in Las Colinas Area of Dallas, USA  8 NTO Press Conferences from the ASEAN Tourism Forum 2024 in Vientiane, Laos  13 Exclusive HD Video Interviews from World Travel Market 2023 in London, England  5 Exclusive HD Video Interviews from APG World Connect 2023 in Monaco, France  15 Exclusive HD Video Interviews from Routes World 2023 in Istanbul, Türkiye  Electric Airport Taxis at Almaty Airport in Kazakhstan - Video Interview with Co-Founder  Pictures from Miss International Queen 2023 Transgender Beauty Pageant in Pattaya, Thailand  Exclusive Video Interviews with 17 Miss International Queen 2023 Contestants  Living With One Eye - Six Years On by Steven Howard  HD Videos and Interviews  Podcasts from HD Video Interviews  RSS Feed - Travel Industry News  Ticker - Travel Industry News  Travel Industry News Archives  Travel Trade Shows  High-Res Picture Galleries  Travel News Asia - Latest Travel Industry News 

Subscribe to our Travel Industry News RSS Feed Travel Industry News RSS Feed from TravelNewsAsia.com. To do that in Outlook, right-click the RSS Feeds folder, select Add a New RSS Feed, enter the URL of our RSS Feed which is: https://www.travelnewsasia.com/travelnews.xml and click Add. The feed can also be used to add the headlines to your website or channel via a customisable applet. Have questions? Please read our Travel News FAQ. Thank you.

     
Advertising
Advertising
Copyright © 1997-2024 TravelNewsAsia.com