Air cargo demand surges 14.1% in June : IATA

The International Air Transport Association (IATA) released data for June 2024 global air cargo markets showing a 14 per cent year-on-year (YoY) growth in total demand, measured in cargo tonne-kilometres (CTKs).

This contributed to an exceptional H1 2024 performance for air cargo, with volumes exceeding 2023, 2022, and even the record-breaking 2021 levels.

The increase in demand marks the seventh consecutive month of double-digit YoY growth.

“Air cargo demand surged in June. Strong growth across all regions and major trade lanes combined for a record-breaking first-half performance in terms of CTKs. Maritime shipping constraints and a booming e-commerce sector are among the strongest growth drivers. Meanwhile, the sector has remained largely impervious to ongoing political and economic challenges, and the US customs crackdown on e-commerce deliveries from China. Air cargo looks to be on solid ground to continue its strong performance into the second half of 2024,” said Willie Walsh, IATA’s Director-General.

According to the report, Middle Eastern carriers saw 13.8 per cent YoY demand growth for air cargo in June, while Asia-Pacific airlines saw 17.0 per cent YoY demand growth, the strongest among all regions.

North American carriers’ air cargo demand growth rose 9.5 per cent YoY, the weakest among all regions, compared to the second-best 16.1 per cent logged by European carriers.

Meanwhile, Latin American carriers saw a 13.1 per cent increase YoY, with African airlines recording an 11.8 per cent YoY growth in demand.