The most recent data published by the International Air Transport Association (IATA) indicates that the demand for air freight services decreased by 11.2% in April 2022 compared to April 2021, and international traffic volumes were 10.6% lower than a year earlier.
The volume of new export orders, an effective tool for forecasting freight demand, is decreasing across all regional markets except the United States.
The demand for air freight in the Asia-Pacific region decreased significantly more than in other regions, dropping 15.8% in April 2022.
European operators reduced freight volumes by 14% year-over-year last month and the demand for intra-European freight routes dropped by 25% compared to the previous month.
Middle East operators handled 12% less traffic in April than a year earlier.
North American air freight demand decreased by 6.6% year-over-year in April: the dramatic drop in freight demand related to Asia was partially balanced by growth on other trade routes, including those with Europe.
The capacity supply in April 2022 was 2% below its April 2021 level (1.2% for international services). The decrease in European supply is due to the ongoing armed conflict in Ukraine: several major Russian airlines were forced to withdraw from the market.
Quarantine restrictions in China created labor shortages and resulted in flight cancellations.