News #95 -Air Cargo Demand up 8.2% in November 2024 - 16th Month of Consecutive Growth
IATA released data for November 2024 global air cargo markets showing:
Total demand, measured in cargo tonne-kilometers (CTK), rose by 8.2% compared to November 2023 levels (9.5% for international operations) for a 16th consecutive month of growth.
Capacity, measured in available cargo tonne-kilometers (ACTK), increased by 4.6% compared to November 2023 (6.5% for international operations).
"It was a good November for air cargo with 8.2% demand growth nearly doubling the 4.6% growth in cargo capacity. Fuel costs tracked at 22% below previous-year levels and tight market conditions supported yield growth at 7.8%. All things considered we are looking to close out 2024 air cargo performance on a profitable note. While this strong performance is very likely to extend into 2025, there are some downside risks that must be carefully watched. These include inflation, geopolitical uncertainties and trade tensions,” said Willie Walsh, IATA’s Director General.
Several factors in the operating environment should be noted:
Year-on-year, industrial production rose 2.1% in October. Global goods trade grew for a seventh consecutive month, reporting a 1.6% increase.
The Purchasing Managers Index (PMI) for global manufacturing output was above the 50-mark for November, indicating growth. However, the PMI for new export orders remained below the 50-mark, suggesting ongoing uncertainty and weakness in global trade.
US headline inflation, based on the annual Consumer Price Index (CPI), rose by 0.1 percentage points to 2.7% in November. In the same month, the inflation rate in the EU increased by 0.2 percentage points to 2.5%. China’s consumer inflation fell to 0.2% in November, continuing concerns of an economic slowdown.
November Regional Performance
Asia-Pacific airlines saw 13.2% year-on-year demand growth for air cargo in November, the strongest growth among the regions. Capacity increased by 9.4% year-on-year.
North American carriers saw 6.9% year-on-year demand growth for air cargo in November. Capacity increased by 2.2% year-on-year.
European carriers saw 5.6% year-on-year demand growth for air cargo in November. Capacity increased 4.3% year-on-year.
Middle Eastern carriers saw 3.6% year-on-year demand growth for air cargo in November. Capacity decreased by 0.6% year-on-year.
Latin American carriers saw 11.6% year-on-year demand growth for air cargo in November. Capacity increased 6.4% year-on-year.
African airlines saw a 0.7% year-on-year decrease in demand for air cargo in November, the slowest among regions. Capacity increased by 0.4% year-on-year.
Trade Lane Growth: International routes experienced exceptional traffic levels for the 16th consecutive month with a 9.5% year-on-year increase in November. Airlines are benefiting from rising e-commerce demand in the US and Europe amid ongoing capacity limits in ocean shipping.
President Donald Trump announced on Wednesday via Truth Social that the United States and Vietnam have reached a framework agreement for a new bilateral trade deal, outlining...
News #119 - “Brace!” Endless disruptions mark new path to supply chain resiliency
In a world increasingly shaped by volatility, uncertainty, and complex global dynamics, the question arises: Are we simply adapting to disruption—or reengineering resilience...
News #119 - Shaping Southeast Asia’s Logistics at tlacSEA 2025
Amid rapid intraregional trade growth, accelerated infrastructure investment, and sweeping digital transformation, the second edition of transport logistic Southeast Asia...
News #119 - U.S. Tariffs on European Goods: Risks and Opportunities for Global Supply...
The escalating trade tensions between the United States and the European Union—exemplified by the imminent implementation of a 20% baseline tariff on EU imports beginning...
News #119 - Vietnam – a trusted global trade partner and strategic supply chain hub
Vietnam’s prominence as a global manufacturing hub is further evidenced by its growing stature in the electronics and high-tech sectors. In 2024, exports of computers, electronics,...
News #119 - IATA: Cargo volumes continue to grow in May despite trade turmoil
Global air cargo demand continued its upward trajectory in May 2025, demonstrating resilience amid escalating trade tensions, including the imposition of steep U.S. tariffs...
News #119 - Asia-to-North America Air Cargo Demand Plunges 10.7% After De Minimis Suspension
Air cargo demand on the critical Asia-to-North America trade lane declined sharply by 10.7% year-on-year in May 2025, following the U.S. government's suspension of the de...
News #119 - Global air cargo demand rises 2.2% in May despite trade disruptions, says...
The International Air Transport Association (IATA) has reported a 2.2% year-on-year increase in global air cargo demand for May 2025, reflecting the sector’s resilience in...
News #119 - Air cargo rates hold up well despite transpacific freighter shift
Air cargo rates have shown notable stability following recent market volatility, with the latest data from the TAC Index reporting only a “relatively modest” weekly decline.
News #118 - WorldACD Weekly Air Cargo Trends (week 25)
BySTAT Times|28 June 2025 2:45 PM Air cargo tonnages from Middle East & South Asia (MESA) origins have rebounded partially in the third week of June after falling sharply...