AviTrader sponsorship ad

WorldACD Market Data gives latest views on air cargo market developments

©FL Technics

In the last full week of January 2023, global air cargo tonnages dropped significantly, as could be expected given the early start of the Lunar New Year, but further analysis of underlying trends reveals the impact of the weakening global economy on air cargo, the latest preliminary figures from WorldACD Market Data indicate.

Figures for week four (23 to 29 January) show a decrease of 11% in worldwide tonnages compared with the previous week, mainly driven by the Lunar New Year that started on January 22. The global average rate level decreased also significantly, by 9% compared with the previous week. However, if we look at all flows to and from Mainland China, Hong Kong, Taiwan, South Korea, Singapore, Malaysia and Vietnam combined, a drop of 37% in tonnages was recorded, whereas all other flows decreased by 5% in tonnages and by 4% in the average rate. Therefore, the slowdown of the global economy cannot be ignored in these figures.

Comparing weeks three and four with the preceding two weeks (2Wo2W), tonnages increased slightly (1%) above its combined total in weeks one and two, with a 1% decrease in capacity, while average worldwide rates dropped by 4% – based on the more-than 400,000 weekly transactions covered by WorldACD’s data.

On a regional level, the effect of the Lunar New Year on air cargo tonnages was most notable on flows inbound Asia Pacific from North America (-22%), Middle East and South Asia (-22%) and Europe (-5%) respectively, but also outbound Asia Pacific to North America (-14%), Middle East & South Asia (-9%) and Europe (-12%) respectively, and intra-Asia Pacific (-34%), on a 2Wo2W basis.

Positive developments were observed on almost all other flows, especially between Europe and North America (westbound +29%; eastbound +17%), between Europe and Africa (both directions +20%) and between North America and Central & South America (northbound +57%, southbound +13%).

Comparing the overall global market with this time last year, chargeable weight in weeks three and four was down 29% compared with the equivalent period last year. Most notably, tonnages ex-Asia Pacific are down by 48%. This comparison is skewed, because last year the Lunar New Year started ten days later, on February 1, 2022. There were also double-digit percent year-on-year drops in tonnages outbound from North America (-27%), Europe (-16%) and Middle East & South Asia (-16%).

Overall capacity has increased by 7% compared with the previous year, with positive developments from all regions except Asia Pacific (-11%) due to the Lunar New Year. Most notable increases were ex-Africa (+21%), ex-North America (+14%) and ex-Middle East and South Asia (+11%).

Worldwide rates are currently 28% below their levels this time last year, at an average of US$2.79 (£2.27) per kilo in week four, despite the effects of higher fuel surcharges, but they remain significantly above pre-COVID levels.

Wednesday April 24, 2024
Ascent AeroSystems all-weather coaxial helicopter drone © Robinson Helicopter Company
Robinson Helicopter Company (RHC) has completed the acquisition of Ascent AeroSystems, which now operates as a wholly owned subsidiary of Robinson Helicopter Company. This strategic move underscores Robinson’s commitment to advancing innovation, expediti... Read More »
Wednesday April 24, 2024
JetBlue
JetBlue, ‘New York’s Hometown Airline®’, has unveiled its financial performance for the first quarter ending March 31, 2024. The airline disclosed a net loss of US$716 million, representing a year-on-year revenue decline of 5.1% to US$2.2 billion. As of... Read More »
Wednesday April 24, 2024
Spirit AeroSystems Wichita, Kansas
Spirit AeroSystems has disclosed an agreement with Boeing, whereby the aerospace giant will furnish advance payments totalling US$425 million, according to REUTERS news agency. This agreement aims to assist Spirit in addressing challenges such as elevated inve... Read More »
Wednesday April 24, 2024
RTX
RTX has reported first quarter sales of US$19.3 billion, marking a 12% increase over the previous year. GAAP EPS rose by 32% to US$1.28, which included various adjustments such as acquisition accounting adjustments, tax audit settlements, and gains related to ... Read More »
Wednesday April 24, 2024
The new five year support contract was signed during MRO Americas in Chicago © Fokker Services Group
During the MRO Americas event, Fokker Services America (a subsidiary of Fokker Services Group, FSG) and HAECO have signed a component service support agreement for a duration of five years. This agreement positions FSG to deliver exceptional component servicin... Read More »
Wednesday April 24, 2024
Codeshare flights between ANA and Air India to connect Japan and India will begin in May 2024© ANA
All Nippon Airways (ANA) and Air India, India’s national flag carrier, have formalised a commercial agreement signalling the commencement of a codeshare partnership facilitating connectivity between Japan and India. Commencing on May 23, this collaborati... Read More »
Tuesday April 23, 2024
Robins Hayes
Robin Hayes, the former CEO of JetBlue Airways, has been selected to succeed C. Jeffrey Knittel as Chairman and Chief Executive Officer of Airbus Americas, effective June 3, 2024. Hayes, with a wealth of experience in global aerospace leadership, will take the... Read More »
Tuesday April 23, 2024
Beechcraft King Air 260 Multi-Engine Training System (METS) T-54A for the U.S. Navy © Textron Aviation
Textron Aviation has supplied the first two of potentially 64 Multi-Engine Training System (METS) Beechcraft King Air 260 aircraft contracted by the Naval Air Systems Command (NAVAIR) on January 25, 2023, after a comprehensive competitive process. The Beechcra... Read More »
Tuesday April 23, 2024
Honeywell
Honeywell has launched Honeywell Forge Performance+ for Aerospace, a cloud-based platform employing AI and machine learning (ML) to assist commercial aerospace manufacturing and MRO facilities in modernising production and reducing operational costs through di... Read More »
Tuesday April 23, 2024
EFW and MJP will collaborate on Airbus passenger-to-freighter (P2F) conversions ©
Elbe Flugzeugwerke GmbH (EFW), an expert in Airbus passenger-to-freighter (P2F) conversions, and MRO Japan (MJP), a prominent player in Japan’s aerospace maintenance repair and overhaul sector, have announced a memorandum of understanding (MOU) to collaborat... Read More »
Tuesday April 23, 2024
MagniX’s electric propulsion units (EPUs) will be utilised to electrify Harbour Air’s fleet
Harbour Air, North America’s largest seaplane airline, has signed a Letter of Intent (LOI) with magniX to acquire 50 magni650 electric engines. MagniX’s electric propulsion units (EPUs) will be utilised to electrify Harbour Air’s fleet, commencing with t... Read More »
Tuesday April 23, 2024
Safety inspection of an aircraft
The Federal Aviation Administration (FAA) is introducing new regulations mandating charter airlines, commuter airlines, air tour operators, and select aircraft manufacturers to establish a safety management system (SMS) to detect and address safety risks early... Read More »
Monday April 22, 2024
Embraer has delivered 25 jets in the first quarter of 2024 (1Q24), marking a substantial increase of 67% compared to the 15 aircraft delivered in 1Q23. Notably, Executive Aviation witnessed robust delivery growth, soaring from eight to 18 jets during the same ... Read More »
Monday April 22, 2024
WestJet has purchased the first SAF supplied in Canada by Shell Aviation © Shutterstock
WestJet has achieved a significant milestone in its mission to attain net-zero emissions by 2050 with the procurement of the first sustainable aviation fuel (SAF) supplied in Canada by Shell Aviation. This achievement underscores WestJet’s commitment to ... Read More »
Monday April 22, 2024
Munich Airport
In the first quarter of 2024, Munich Airport maintained its trajectory for growth despite numerous strikes, with nearly eight million travellers counted from January to March. This marks an increase of about one million passengers, or approximately 14%, compar... Read More »
Monday April 22, 2024
Alaska-Horizon Embraer E175 aircraft © Embraer
Alaska Air Group has reported a net loss for the first quarter of 2024 (under generally accepted accounting principles, GAAP) of US$132 million, compared to a net loss of US$142 million for the first quarter of 2023. The reported net loss for the first quarter... Read More »
Monday April 22, 2024
ANZ has selected Wellington and Marlborough airports as the ports for its all-electric aircraft © Air New Zealand
Air New Zealand has revealed Wellington and Marlborough airports as the designated ports for its inaugural all-electric aircraft. Late last year, Air New Zealand unveiled the acquisition of its premier next-generation aircraft, the all-electric ALIA CTOL from ... Read More »
Monday April 22, 2024
Spirit Central, Spirit Airlines' new corporate campus at Dania Pointe in Dania Beach, Florida
On April 18, Spirit Airlines has marked the grand opening of Spirit Central, its new corporate campus at Dania Pointe in Dania Beach, Florida. The expansive campus, sprawling over 11 acres, comprises four edifices, including a support centre housing offices, a... Read More »
Friday April 19, 2024
© Safran
To commemorate its 25th anniversary, Safran Aircraft Engines Services Morocco (SAESM), a collaboration between Safran Aircraft Engines and Royal Air Maroc, have unveiled the expansion of its Nouaceur plant near Casablanca’s Mohammed V International Airport. ... Read More »
Friday April 19, 2024
Among other transactions during the quarter SkyWorks negotiated the extension of the lease for an A319-100 aircraft leased to Bangkok Airways
SkyWorks Holdings hasndisclosed the transactions and engagements conducted during the first quarter of 2024 across its Leasing & Asset Management and Investment Banking & Advisory Groups. Under the Leasing & Asset Management Group, SkyWorks facilit... Read More »
MRO Americas 2024

2023 MEDIA KIT

Aviation Media Pack

Learn more on how AviTrader can expand your market

Please contact

Tamar Jorssen
Vice President Sales & Marketing
+1.778.213.8543
[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada

Subscribe to the most widely accepted news source in the aviation industry!


Free Daily, Weekly and MRO Publications delivered to your Inbox!
News Alerts, Editorials, Marketplace, Executive Interviews +more

Select publications:

*we respect your privacy and AviTrader will not share your email address to any 3rd Parties.

Scroll to Top
AviTrader

FREE
VIEW