Ontario International Airport (ONT) saw cargo volumes decline in February on the back of persisting global economic uncertainties and slowing consumer demand.
ONT handled 56,191 tonnes of cargo — freight and mail — in February 2023, which was 7.67% less than the 60,857 tonnes during the same month in 2022.
Last month's air cargo volumes were also lower than the shipments of commercial freight and mail recorded in January when ONT processed 62,771 tons of cargo – also down 8% from January 2022.
Source: Ontario International Airport
"Shipments of commercial freight and mail declined 7% by volume in February compared with 2022 and 8% on a year-to-date basis," the airport, one of the busiest in the country, said.
"Industry analysts attribute decreased cargo volumes worldwide to rising interest rates and slowing consumer demand, which they say could persist in coming months," ONT added.
The gateway saw increased cargo volumes for the full-year 2022, which continued to exceed levels seen in 2019 before the onset of the Covid-19 pandemic.
Air cargo volumes were up by nearly 9% over the level seen in 2019.