World air cargo totals still rising - IATA
- Latest News
- Wednesday, 01 May 2024
The International Air Transport Association (IATA) says March 2024 global air cargo markets showed continuing strong demand growth.
• Total demand, measured in cargo tonne-kilometres (CTKs), rose by 10.3 per cent compared to March 2023 levels (11.4 per cent for international operations). This is the fourth consecutive month of double-digit year-on-year growth.
• Capacity, measured in available cargo tonne-kilometres (ACTKs), increased by 7.3 per cent compared to March 2023 (10.5 per cent for international operations).
"With global cross-border trade and industrial production continuing to show a moderate upward trend, 2024 is shaping up to be a solid year for air cargo," said Willie Walsh, IATA’s director general.
(% year-on-year) World share1 CTK ACTK CL
March regional performance
Asia-Pacific airlines saw 14.3 per cent year-on-year demand growth for air cargo in March. Demand on the Asia-Europe route grew by 2.7 ppt to 17.0 per cent and the 'within Asia' market grew by 6.7 percentage points to 11.8 per cent. Capacity increased by 14.3 per cent year-on-year (yoy).
North American carriers saw 0.9 per cent year-on-year demand growth for air cargo in March - the weakest among all regions. Demand on the North America–Europe trade lane grew by 2.9 per cent year-on-year while Asia–North America grew by 4.7 per cent year-on-year. March capacity decreased by 1.9 per cent yoy.
European carriers saw 10.0 per cent yoy demand growth for air cargo in March. Intra-European air cargo rose by 24.7 per cent. Europe–Middle East routes saw demand grow by 38.3 per cent yoy, while Europe–North America expanded by 2.9 per cent. March capacity increased eight per cent.
Middle Eastern carriers saw 19.9 per cent yoy demand growth – the strongest of all regions. The Middle East–Europe market was the strongest performing with 38.3 per cent growth, ahead of Middle East-Asia which grew by 19.6 per cent. March capacity increased 10.6 per cent yoy.
Latin American carriers saw 9.2 per cent yoy demand growth for air cargo in March. Capacity increased seven per cent yoy.
African airlines saw 14.2 per cent yoy demand growth. Demand on Africa–Asia market increased to 22.9 per cent, however this was a 19.8 ppt decrease compared to February’s performance and the largest contraction across the major route areas. March capacity increased by 17.3 per cent.
