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June sees robust air cargo demand as industry shows resilience

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June sees robust air cargo demand as industry shows resilience
Research
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Joe Petrie Editor & Chief | AviationPros

The International Air Transport Association (IATA) has released data indicating a strong performance in global air cargo markets for June 2024. The demand, measured in cargo tonne-kilometers (CTKs), rose by 14.1% compared to the same month last year, marking the seventh consecutive month of double-digit growth. Capacity also increased by 8.8% over June 2023.

For the first half of 2024, total demand saw a 13.4% increase compared to H1 2023 and surpassed figures from both 2022 and the record-breaking year of 2021. Willie Walsh, IATA’s director general, commented on the performance: "Air cargo demand surged in June. Strong growth across all regions and major trade lanes combined for a record-breaking first-half performance in terms of CTKs."

Several factors have contributed to this growth, including maritime shipping constraints and a booming e-commerce sector. Despite political and economic challenges and issues like the US customs crackdown on e-commerce deliveries from China, air cargo has maintained its strong trajectory.

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In terms of regional performance, Asia-Pacific airlines led with a 17.0% year-on-year demand growth for air cargo in June. The Africa-Asia trade lane saw an impressive 37.5% increase in demand compared to last year.

North American carriers experienced a lower growth rate at 9.5%, while European carriers reported a 16.1% increase in demand year-on-year for June. Middle Eastern carriers showed a growth of 13.8%, with notable increases on the Middle East-Europe route.

Latin American carriers achieved a demand growth of 13.1%, with capacity rising by 15.5%. African airlines recorded an 11.8% increase in demand with significant growth on the Africa-Asia market.

Overall, air cargo appears poised to continue its strong performance into the second half of the year.

Organizations Included in this History
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