Business View Magazine | Volume 9, Issue 2

13 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 2 OPENING L INES passenger demand remained in the doldrums due to COVID-19 travel restrictions. Growth opportunities however were lost due to the pressures of labor shortages and constraints across the logistics system. Overall, economic conditions do point towards a strong 2022,” said Willie Walsh, IATA’s Director General. December saw a relief in supply chain issues that enabled an acceleration of cargo growth. “Some relief on supply chain constraints occurred naturally in December as volumes decreased after peak shipping activity ended in advance of the Christmas holiday. This freed capacity to accommodate front-loading of some Lunar New Year shipments to avoid potential disruptions to flight schedules during the Winter Olympic games. And overall December cargo performance was assisted by additional belly-hold capacity as airlines accommodated an expected year-end boost to travel. As shortages of labor and storage capacity remain, governments must keep a sharp focus on supply chain constraints to protect the economic recovery,” said Walsh. 2021 Regional Performance Strong variations were evident in the regional performance of air cargo in 2021 compared to 2019. North American carriers were the strongest performers, reporting an annual increase in international demand of 20.2%. Middle East and African carriers also reported double digit growth in international demand in 2021 (10.6% and 11.3%, respectively) compared to 2019. Asia-Pacific and European carriers saw international demand rise 3.6% in 2021 compared to 2019. And Latin American carriers were the only ones to record a contraction in international demand of 15.2% compared to 2019. Asia-Pacific airlines reported a rise in