According to data for the month of February released by the International Air Transport Association (IATA) global air cargo demand rose by 11.9% compared to February 2023 levels (12.4% for international operations). This is the third consecutive month of double-digit year-on-year demand growth.
Capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 13.4% compared to February 2023 (16.0% for international operations). This was largely related to the increase in international belly capacity accompanying growth in passenger markets (29.5% year-on-year increase), which far exceeded international capacity on freighters (3.2% year-on-year increase).
North American carriers saw a 4.2% year-on-year demand growth for air cargo in February-the weakest among all regions. Demand on the North America-Europe trade lane grew by 5.2% year-on-year while Asia-North America grew by 3.9% year-on-year.
European carriers saw 14.6% year-on-year demand growth for air cargo in February. Intra-European air cargo rose by 24.5% year-on-year-the strongest performance in almost three years.
Asia-Pacific airlines saw 11.9% year-on-year demand growth for air cargo in February. This was a significant decrease compared to January’s 24.3% year-on-year growth, likely related to slowing activity after the Lunar New Year celebrations.
Middle Eastern carriers saw 20.9% year-on-year demand growth for air cargo in February. The Middle East-Europe market was the strongest performing with +39.3% growth, far ahead of Middle East-Asia which grew by 21.9% year-on-year. February capacity increased 16.2% year-on-year.
Latin American carriers saw 13.7% year-on-year demand growth for air cargo in February and African airlines saw 22.0% year-on-year demand growth.
Source: IATA