AIR CARGO DEMAND GROWS BY 11.9% IN FEBRUARY
On 3 April, the International Air Transport Association (IATA) released its latest data on global air freight markets, highlighting a robust growth in demand.
Compared to February 2023, total demand, measured in cargo tonne-kilometres (CTKs), increased by 11.9% (12.4% for international operations). This marks the third consecutive month of double-digit year-on-year growth. Capacity, measured in available cargo tonne-kilometres (ACTKs), increased by 13.4% compared to February 2023 (16.0% for international operations). The increase was primarily driven by the growth in passenger markets, resulting in increased international belly capacity of 29.5% year-on-year.
European carriers experienced a 14.6% year-on-year growth in air cargo demand in February, with intra-European air cargo increasing by 24.5% year-on-year, marking its strongest performance in almost three years. Routes between Europe and the Middle East saw demand growing by 39.3% year-on-year, while those between Europe and North America grew by 5.2% year-on-year.
Mr Willie Walsh, IATA's Director General, indicated that 2024 has the potential to surpass the exceptionally high demand levels seen in early 2022, also emphasising the industry's resilience despite ongoing political and economic uncertainties.
Source: IATA