African airlines recorded a 4.7 per cent decline in air cargo demand in August 2023, its weakest performance compared to August 2022, the International Air Transport Associationsaid.
IATA, in a new report, noted that air cargo demand from African airlines had the weakest performance compared to Asia-Pacific airlines, European carriers, North American airlines, Middle Eastern carriers, and Latin American carriers.
“African airlines had the weakest performance in August 2023, with a 4.7 per cent decline in cargo volumes compared to August 2022,” the report said.
IATA said the decline is significant relative to the 2.3 per cent growth recorded in July.
This, the group said, is partly due to the 1.1 per cent decline recorded on the Africa-Asia routes in August (the same route grew by 11.2 per cent in July).
However, the association said available cargo tonne-kilometres — a measurement for available total cargo capacity — increased by 3.8 per cent above August 2022 levels.
The association also provided data on the cargo performance of airlines in other regions outside Africa.
According to IATA, Asia-Pacific airlines recorded an increase of 4.9 per cent in air cargo volumes in August this year, while available capacity rose by 28.5 per cent.
North American carriers’ air cargo volumes decreased by 1.2 per cent in the review month, but available cargo capacity increased by 2.7 per cent, the organisation said.
The association said air cargo volumes for European carriers also declined by 0.2 percent in August 2023, while available cargo capacity increased by 3.6 per cent.
Similarly, carriers in the Middle East experienced a 1.4 per cent rise in cargo volumes despite a 15.7 per cent rise in cargo capacity.
Latin American airlines saw a 6.2 per cent increase in cargo volumes, which IATA described as the strongest performance in August this year.
The continent’s available cargo capacity in the same month in 2023 also recorded a growth of 13.7 per cent.
The report added, ” The North America – Europe trade lane registered a 2.9 per cent annual contraction in traffic this month, 1.2 ppts better than July.
“Similarly, international CTKs on the Asia – North America trade lane declined by 4.2 per cent in August, slightly better than the 4.4 per cent contraction in July. The performance of the within-Asia market kept improving, with an annual decline of 4.7 per cent this month compared to the 9.7 per cent decrease in July.
“The Africa – Asia and Within – Europe markets were the only two major trade lanes that expanded their annual contractions from the July levels.
“In particular, international CTKs on the Africa – Asia trade lane declined by 1.1 per cent this month, from their 11.2 per cent growth in July. The within-Europe saw a decline of 4.6 per cent in August, which is 1.5 ppts lower than the previous month.”
