THE INTERNATIONAL Air Transport Association has reported a continuing strong annual growth in air cargo demand in March 2024.
Total demand, measured in cargo tonne-kilometres, rose by 10.3% compared to March 2023 levels. This is the fourth consecutive month of double-digit year-on-year growth.
Capacity, measured in available cargo tonne-kilometres, increased by 7.3% compared to March 2023.
IATA director general Willie Walsh said the increase in demand contributed to a strong first quarter performance, which slightly exceeded even the exceptionally strong 2021 first quarter performance during the pandemic.
“With global cross-border trade and industrial production continuing to show a moderate upward trend, 2024 is shaping up to be a solid year for air cargo,” he said.
IATA highlighted several factors in the operating environment, including that global cross-border trade and industrial production increased by 1.2% and 1.6% respectively in February.
Asia-Pacific airlines saw 14.3% year-on-year demand growth for air cargo in March, while capacity increased by 14.3% year-on-year.
North American carriers saw 0.9% year-on-year demand growth for air cargo in March, which was the weakest among all regions. March capacity decreased by 1.9% year-on-year.
European carriers saw 10% year-on-year demand growth for air cargo in March. Capacity for the month increased 8% year-on-year.
Middle Eastern carriers saw 19.9% year-on-year demand growth for air cargo in March – the strongest of all regions. The Middle East–Europe market was the strongest performing with 38.3% growth, ahead of Middle East-Asia which grew by 19.6% year-on-year. March capacity increased 10.6% year-on-year.
Latin American carriers saw 9.2% year-on-year demand growth for air cargo in March. Capacity increased 7.0% year-on-year.
And African airlines saw 14.2% year-on-year demand growth for air cargo in March. Demand on Africa-Asia market increased to 22.9%, however this was a 19.8% decrease compared to February’s performance and the largest contraction across the major route areas. March capacity increased by 17.3% year-on-year.
Source: https://www.thedcn.com.au/region/australia/air-cargo-demand-strengthens-in-march/
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