16 October 2024
Canadian Custom Brokerage

Global air cargo records a ninth straight month of double-digit growth in August

According to data for the month of August released by the International Air Transport Association (IATA) the global air cargo markets were continuing their strong annual growth in demand.

Total demand, measured in cargo tonne-kilometers, rose by 11.4% compared to August 2023 levels (12.4% for international operations). This is the ninth consecutive month of double-digit year-on-year growth, with overall levels reaching heights not seen since the record peaks of 2021.

Capacity, measured in available cargo tonne-kilometers, increased by 6.2% compared to August 2023 (8.2% for international operations). This was largely related to the growth in international belly capacity, which rose 10.9% on the strength of passenger markets. Industry-wide capacity has reached an all-time high.

Asia-Pacific airlines saw 14.6% year-on-year demand growth for air cargo in August – the strongest of all regions – while North American carriers saw 4.8% year-on-year demand growth – the lowest of all regions.

European carriers saw 13.5% year-on-year demand growth for air cargo in August and Middle Eastern carriers saw 13.5% year-on-year demand growth

Latin American carriers saw 14.2% year-on-year air cargo demand growth for in August and African airlines saw 7.5% year-on-year demand growth.

Source: IATA

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