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News 2022

August 2022 IATA Air Freight Market Analysis

Published October 6. IATA Economic Reports.

Cargo volumes rebound


  • Seasonally adjusted cargo tonne-kilometers (CTKs) rebounded in August with a 1.0% growth compared with July. This is a solid comeback from the marked decline of 9.6% year-on-year (YoY) in the previous month. Compared with a year ago, August CTKs were 8.3% lower.
  • Available cargo tonne-kilometers (ACTKs) increased by 6.3% YoY while they were 0.5% down from the July level, contributing to the first positive growth in industry-wide load factor since January 2022.
  • Asia Pacific saw the most significant increase in seasonally adjusted ACTKs from 2.4% YoY in July to 12.4% YoY in August, and Latin America maintained its double-digit growth of 24.7% YoY.
  • Globally, the recovery in the Asia market brought positive growth in air cargo demand in some of the largest cargo markets. Inflation levels in G7 countries dropped for the first time since November 2020, signaling stronger confidence in world trade and the global air cargo market.

Positive growth in Africa

African airlines saw cargo volumes increase by 1.0% in August 2022 compared to August 2021. This was a significant improvement on growth recorded the previous month (-3.5%). Capacity was 1.4% below August 2021 levels.

CTK activity showed resilience in August

Industry-wide cargo tonne-kilometers (CTKs) were down 8.3% YoY in August, which is a solid improvement from the July decrease of 9.7% YoY. 

 The decline in seasonally adjusted (SA) air cargo volumes paused in August, with a robust 1% monthon-month (MoM) growth compared with July. This signals the resilience of the air cargo industry under mounting pressures from the recent economic volatility and geopolitical conflicts. Download the full report.