Global Air Cargo Demand Grows 11.4 Pct In August 2024 – IATA

KUALA LUMPUR, Global air cargo markets demonstrated robust annual growth in demand for August 2024, with cargo tonne-kilometers (CTKs) rising by 11.4 per cent compared to August 2023, according to the International Air Transport Association (IATA). This marks the ninth consecutive month of double-digit year-on-year (y-o-y) growth, it said in a statement today. Capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 6.2 per cent against August 2023, which had seen an 8.2 per cent rise. IATA director general Willie Walsh noted that the sector recorded a second consecutive month of record-high demand year-to-date. "Even with record levels of capacity, yields are up 11.7 per cent on 2023, 2.0 per cent on the previous month, and 46 per cent above pre-pandemic levels. "This strong performance is underpinned by slow but steady growth in global trade, booming e-commerce and continuing capacity constraints in maritime shipping," he said. By region, Asia-Pacific airlines emerged as the strong est, with a 14.6 per cent y-o-y demand growth for air cargo in August. Demand in the Asia-Africa, Asia-Europe, and within-Asia markets grew by 21.2 per cent, 18.4 per cent, and 16.1 per cent, respectively. North American carriers experienced the lowest growth among regions, with a 4.8 per cent y-o-y increase in air cargo demand for August. Source: BERNAMA News Agency