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Total demand for air cargo, measured in cargo tonne-kilometers (CTK), increased by 8.2% in November 2024 compared to the same month in 2023. This marks the 16th consecutive month of growth, with international operations seeing a rise of 9.5%. Capacity, measured in available cargo tonne-kilometers (ACTK), also saw an increase of 4.6%, with international operations up by 6.5%.
Willie Walsh, IATA’s Director General, commented on the performance: "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."
However, Walsh noted potential risks that could affect future performance: "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."
