Air Cargo returns to Pre Pandemic Levels

Global air freight levels for 2022 were 1.6% lower compared to 2019 pre-pandemic levels, according to data released by International Air Transport Association (IATA). 2022 levels were down 8.2% compared to the extraordinary demand in 2021. Capacity in 2022 was 4.5% above 2021, but 9.0% below 2019.

Looking forward, air cargo volumes in 2023 are expected to be 5.6% below 2019 levels, due to the continuing efforts of many governments to combat inflation and cool down economies. But it will take time for those measures to lower cargo rates.

(Source: Tandem Canada Newsletter, 16 February 2023)