CargoAi features the air cargo capacity statistics report for March 2023 extracted from the business intelligence tool CargoINTEL using the real-time facts and figures. Read on for the most significant insights and analysis of inter-regional and intra-regional capacity in comparison to the previous month.
- March 2023 has closed Q1 of 2023 on a positive note showing signs of stability in terms of global capacity, tonnages as well as air freight yields.
- The global capacity has remained quite tumultuous towards the end of Q4 of 2022 and in the initial few weeks of 2023 due to reduction in global capacity, flight cancellations and delays caused by various reasons like bad winter weather conditions in various parts of the world, industry strikes in Europe; Lunar New Year holidays in Asia, and so on.
- CargoINTEL comparison shows the overall global capacity in the first 28 days of March grown at 7% month-on-month than that of February.
- The inter-regional capacity registered by CargoINTEL in March stands at 2709K MT as compared to 2537K MT in February.
- In February, the aviation sector underwent various disruptions in belly and freighter capacity. While bad weather conditions affected flights in many parts of US and Europe during winters; Africa bound flights were affected by tropical cyclone Freddy. The prolonged strike in the Europe and the IT system failure, especially in Germany caused disarray of scheduled operation of passenger flights.
- The indefinite industry strikes in Germany and other parts of Europe has also led to significant carriers like Lufthansa to announce cancellation of almost 500 flights a day in the whole of summer schedule.
- The overall global belly freight capacity has increased by 9% in March to 1482K MT from 1364K MT in February. The global freighter capacity has also marginally surged up by 5% to 1227K MT in March from 1173K MT in February.
- The stability in capacity seen in March are good signs of stability in demand mobilized in Q1 of 2023, which is also reiterated by WorldACD which has recorded firm average rates around 50% higher than pre-COVID levels and YoY tonnages down in single digit figure of -8%.