According to data for the month of May released by the International Air Transport Association (IATA) global air cargo demand rose by 14.7% compared to May 2023 levels (15.5% for international operations). This is the sixth consecutive month of double-digit year-on-year growth.
Capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 6.7% compared to May 2023 (10.2% for international operations).
North American carriers saw 8.7% year-on-year demand growth for air cargo in May. Demand on the Asia-North America trade lane grew by 12.0% year-on-year, while the North America-Europe route saw an increase of 8.9%, marking the largest demand growth for this route since mid-2022.
European carriers saw 17.2% year-on-year demand growth for air cargo in May. Intra-European air cargo rose by 25.6% compared to May 2023, the fifth month in a row of double-digit annual growth. Europe-Middle East routes saw demand increase by 33.8%.
Asia-Pacific airlines saw 17.8% year-on-year demand growth for air cargo in May. Demand on the Africa-Asia trade lane grew by 40.6% year-on-year, while the Europe-Asia, Within Asia and Middle East-Asia trade lanes rose by 20.4%, 19.2% and 18.6% respectively.
Middle Eastern carriers saw 15.3% year-on-year demand growth for air cargo in May. As mentioned above, the Middle East-Europe market performed particularly well with 33.8% annual growth, ahead of Middle East-Asia which grew by 18.6% year-on-year.
Latin American carriers saw 12.7% year-on-year demand growth for air cargo in May and African airlines saw 18.4% year-on-year demand growth.
Source: IATA