Asia-Pacific airlines posted an 11.7% year-on-year demand growth for air cargo in September with capacity increased by 8.5% year-on-year, according to the International Air Transport Association (IATA).
American carriers saw a 3.8% year-on-year demand growth for air cargo in September 2024 with capacity increased by 4.2% year-on-year.
European carriers saw 11.7% year-on-year demand growth for air cargo in September with capacity increased by 7.5% year-on-year.
Middle Eastern carriers saw 10.1% year-on-year demand growth for air cargo in September. Capacity increased 2.9% year-on-year.
IATA noted that the total demand as measured in cargo ton-kilometers (CTKs), rose by 9.4% compared to September 2023 levels for a 14th consecutive month of growth.
Cargo capacity as measured in available cargo tonne-kilometers (ACTKs), increased by 6.4% compared to September 2023. This continued to be largely related to the growth in international belly capacity, which rose 10.3%–extending the trend of double-digit annual capacity growth to 41 consecutive months, said IATA.
Willie Walsh, IATA’s Director General said the September performance brought continued good news for air cargo markets.
“With 9.4% year-on-year growth, cargo volumes continued to mark all-time highs for demand. Yields are also improving, up 11.7% in 2023 and 50% above 2019 levels. All this points to a strong finish for this year. For longer-term trends, the air cargo world will be closely following the outcome of the US election for indications of how US trade policy will evolve,” said Walsh.
Walsh also noted that the international routes experienced exceptional traffic levels for the fifth month, with a 10.5% year-on-year increase in September as airlines are benefiting from rising e-commerce demand in the US and Europe amid ongoing capacity limits in ocean shipping.
Global goods trade increased by 2.8% for a sixth consecutive month of growth, while monthly trade grew by 1.4%, the highest in seven months.
The total cargo traffic market share by region of carriers in terms of cargo ton-kilometers consists of Asia-Pacific (33.3%), Europe (21.4%), North America (26.9%), Middle East (13.5%), Latin America (2.8%), and Africa 2.0%. (Edu Lopez)
