AIR CARGO traffic is predicted to drop by a further four per cent next year, while yields and revenues are also expected to weaken compared with this year's levels, reports London's Air Cargo News.
Speaking at the iata Global Media Day, the airline association's head of policy analysis Andrew Matters revealed its predictions for next year.
He said that cargo volumes are expected to fall 4.3 per cent year on year to 57.7 million tonnes, following on from an 8.1 per cent fall this year to 60.3 million tonnes.
'This reflects the challenging global economic backdrop in terms of global economic growth but also in terms of international trade,' Mr Matters said.
As a result of load factors returning to pre-Covid levels, he said yields are expected to decline 22 per cent next year, following on from a seven per cent increase this year, a 24 per cent increase in 2021 and a 50 per cent increase in 2020.
'It [22 per cent] sounds like a big number and quite dramatic but it isn't too unreasonable given the very strong increases we have seen in recent years,' he said.
Airline cargo revenues are expected to fall 25 per cent next year around be US$149.4 billion, although Mr Matters pointed out this was still around 50 per cent higher than pre-Covid levels.
'The exceptional period that we have had looks like it is coming to an end. We started to come back to levels across a number of these variables that we are more accustomed to.'
SeaNews Turkey
Speaking at the iata Global Media Day, the airline association's head of policy analysis Andrew Matters revealed its predictions for next year.
He said that cargo volumes are expected to fall 4.3 per cent year on year to 57.7 million tonnes, following on from an 8.1 per cent fall this year to 60.3 million tonnes.
'This reflects the challenging global economic backdrop in terms of global economic growth but also in terms of international trade,' Mr Matters said.
As a result of load factors returning to pre-Covid levels, he said yields are expected to decline 22 per cent next year, following on from a seven per cent increase this year, a 24 per cent increase in 2021 and a 50 per cent increase in 2020.
'It [22 per cent] sounds like a big number and quite dramatic but it isn't too unreasonable given the very strong increases we have seen in recent years,' he said.
Airline cargo revenues are expected to fall 25 per cent next year around be US$149.4 billion, although Mr Matters pointed out this was still around 50 per cent higher than pre-Covid levels.
'The exceptional period that we have had looks like it is coming to an end. We started to come back to levels across a number of these variables that we are more accustomed to.'
SeaNews Turkey