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News 2023

January 2023 IATA Air Freight Market Analysis

Published March 6. IATA Economic Reports.

Air cargo demand falls


  • Industry-wide cargo tonne-kilometers (CTKs) continued to decline in January, falling 14.9% year-on-year (YoY) and marking the 11th month of consecutive annual declines. Compared with pre-pandemic levels, air cargo demand was also down 11%.
  • Cargo capacity – measured by available cargo tonne-kilometers (ACTKs) – picked up 3.9% YoY in January, reflecting the strong recovery of belly cargo capacity in passenger airline markets. Cargo load factors stood at 44.8%, after falling 9.9 percentage points below load factors in January 2022.
  • The economic outlook for the air cargo industry in 2023 is expected to be a challenging one. Multiple macroeconomic headwinds stemming from the global pandemic persist and the on-going war in Ukraine has disrupted important trade flows and economic activity across various regions.

African airline cargo volumes decrease by 9.5% YoY

African airlines saw cargo volumes decrease by 9.5% in January 2023 compared to January 2022. This was an improvement in performance compared to the previous month (-10%). Capacity was 1.8% below January 2022 levels, but demand for the region’s airlines remained 9.7% higher than pre-pandemic levels.  

Air cargo demand contracted further in January

Industry-wide cargo tonne-kilometers (CTKs) fell 14.9% YoY in January, marking the 11th month of consecutive annual declines in global air cargo demand. Compared with January 2019 cargo traffic, industry CTKs also contracted by 11%. Download the full report.