Strong Global Air Travel Recovery

The global air passenger market (measured in revenue passenger kilometers, RPK) rose by 76.2% in year-on-year (YoY) terms in June, according to a press release issued by the International Air Transport Association (IATA).

The global air passenger volume for the specified period increased by 229.5% and reached 65% of the 2019 level. This was facilitated by the removal of travel restrictions in most countries in the Asia-Pacific region (APR).

Let us remind that the air passenger volume is directly related to the supply of cargo capacities in the market since part of the cargo air traffic is attributed to the cargo compartments of passenger aircraft.

According to the IATA release, the international RPKs of airlines based in Asia Pacific increased by 492% compared to June 2021. Airlines based in Europe recorded growth of 234.4% in international RPKs, the traffic of Middle East airlines increased by 246.5%, carriers in North and Latin America recorded YoY growth in international RPKs of 168.9% and 136.6% respectively, and airlines based in Africa recorded an increase of 103.6%.