CargoAi features the air cargo capacity statistics report for Oct 2022 with the most significant insights and analysis of inter-regional and intra-regional capacity in comparison to the previous month. Stay tuned with CargoINTEL for in-depth analytics and breakdown of the global air cargo market and trends.
- After two months of consistent decline of global capacity owing to slump in cargo volumes across the globe, stability in capacity could be observed in October 2022. The global capacity in October 2022 has remained verging around the September 2022 levels. This congruity in capacity for the second consequent month can be majorly attributed to the strengthening of demand from the Asia-Pacific region. The second-half of October showed double digit volume increase from Asia-Pacific by 11%, as per WorldACD.
- The rise in tonnages could be the probable result of some notable facts like the resurfacing of the markets after the China’s Global Week closure in the first week of October, easing down of some big markets like Hong Kong and Japan from the COVID restrictions, and a moderate seasonal increase in tonnages towards Q4 of the year.
- The global freighter capacity has reduced by 5% MoM in October 2022, whereas the belly capacity has seen an increase by 3%.
- The reported positive signs of increasing volumes from Asia-Pacific to Europe, North America and Middle-East are indicative of a corresponding increase in capacity in the last two months of Q4.
- As per WorldACD, the global rates have weathered an average hike by 3%. The rates from Asia Pacific and from Latin America have increased by 4%. The increase in rates from Latin America denotes the seasonal surge in demand, which collaterally justifies a 13% MoM rise in belly capacity in October. While the capacity from Asia-Pacific to North America has gone down by 9% MoM in October, the increased rates by 7% on this sector creates the scope for more freighter operation.