Page 22 - STAT June 2023 Latest Issue

regionalreport

LOOK PAST NEXT 12 MONTHS

CARRIERS ARE BUSY

BUILDING CAPACITY

The slowdown in the global economy has also affected the air cargo industry of
the Americas. However, carriers in the market are looking beyond the 12 months
ahead and are busy building capacities for the future.
Libin Chacko Kurian

n April 2023, the global air cargo indus- from Chilean fresh Salmon to flowers of in April due to a substantial fall in volumes
try surpassed the pre-Covid-19 levels of Latin America, airlines are getting ready. on two major trade lanes: North America-
capacity for the first time in three years. In its April 2023 global air cargo report, Europe (13 percent) and North America-
IBut on the demand side, it is still down the International Air Transport Associa- Asia (9 percent). Capacity decreased 1.5
with fears of recession and one of the most tion (IATA) noted that North American percent compared to April 2022,” it reads.
affected regions is the Americas, particu- carriers saw the weakest performance of Meanwhile, Latin American carriers
larly North America. However, airlines in all regions with a 13.1 percent decrease reported a 1.6 percent decrease in cargo
the region are looking beyond the next 12 in cargo volumes compared to the same volumes in April 2023 compared to April
months and building capacities, particular- month in 2022. This was a drop in perfor- 2022. This was a performance improve-
ly the freighter capacity to move the future mance compared to March (10 percent). ment compared to March (4 percent). Ca-
demand. From South American fruits and “Notably, airlines in the region saw a sig- pacity in April was up 8 percent compared
vegetables to Canadian e-commerce and nificant decrease in international demand to the same month in 2022.
20 | JUNE 2023 www.stattimes.com