AIR CARGO DEMAND GROWS BY 9.8% IN OCTOBER
On 3 December, the International Air Transport Association (IATA) released its latest data on global air freight markets, highlighting a strong growth in demand in October.
Compared to October 2023, total demand, measured in cargo tonne-kilometres (CTKs), increased by 9.8% (10.3% for international operations). This marks the fifteenth consecutive month of growth. Capacity, measured in available cargo tonne-kilometres (ACTKs), increased by 5.9% compared to October 2023 (7.2% for international operations). This continued growth is related to the growth of international belly capacity, which rose 8.5%. Dedicated freighter capacity increased by 5.6%, the seventh consecutive month of growth with volumes nearing 2021 peak levels.
European carriers experienced a 7.6% year-on-year growth in air cargo demand in September, with capacity increasing 3.9% year-on-year. International routes saw exceptional traffic for a fifth consecutive month, with a 10.3% year-on-year increase in October, driven by rising e-commerce demand in the US and Europe amid ongoing ocean shipping capacity limits.
IATA’s Director General, Mr. Willie Walsh, stated that while 2024 looks promising for air cargo, caution is needed for 2025. He noted that the incoming Trump Administration’s proposed tariffs on key trading partners could disrupt global supply chains and challenge the industry's adaptability
Source: IATA