THE International air Transport Association (IATA) released January data that shows air cargo tonne-kilometres demand increased 18.4 per cent year on year.
This significant upturn marks the highest annual growth in cargo tonne-kilometres (CTKs) since the summer season of 2021.
Capacity, measured in available cargo tonne-kilometres (ACTKs), was up 14.6 per cent compared to January 2023 (18.2 per cent for international operations).
This was largely related to the growth in belly capacity. International belly capacity rose 25.8 per cent year on year on the strength of passenger markets.
'Air cargo demand was up 18.4 per cent year-on-year in January. This is a strong start to the year. In particular, the booming e-commerce sector is continuing to help air cargo demand to trend above growth in both trade and production since the last quarter of 2023.
'The counterweight to this good news is uncertainty over how China's economic slowdown will unfold. This will be on the minds of air cargo executives meeting in Hong Kong for the IATA World Cargo Symposium with an agenda focused on digitisation, efficiency and sustainability,' said IATA director general Willie Walsh.
Asia-Pacific airlines saw their air cargo volumes increase by 24.6 per cent in January 2024 compared to the same month in 2023. This performance was above the previous month (+18.5 per cent).
North American carriers had the weakest performance of all regions in January with a 9.3 per cent increase in cargo volumes. This was an improvement in performance compared to December (+2.0 per cent).
European carriers saw their air cargo volumes increase by 16.4 per cent in January compared to the same month in 2023. This was a stronger performance than in December (+8.6 per cent).
Middle Eastern carriers had the strongest performance in January 2024, with a 25.9 per cent year-on-year increase in cargo volumes. This was a significant improvement from the previous month's performance (+18.3 per cent).
Latin American carriers experienced a 13.4 per cent increase in cargo volumes compared to January 2023, a notable increase compared to the previous month's gain (+6.4 per cent). Capacity in January was up 6.6 per cent compared to the same month in 2023.
African airlines saw their air cargo volumes increase by 17.0 per cent in January 2024, much improved compared to December's performance (-1.2 per cent).
SeaNews Turkey
This significant upturn marks the highest annual growth in cargo tonne-kilometres (CTKs) since the summer season of 2021.
Capacity, measured in available cargo tonne-kilometres (ACTKs), was up 14.6 per cent compared to January 2023 (18.2 per cent for international operations).
This was largely related to the growth in belly capacity. International belly capacity rose 25.8 per cent year on year on the strength of passenger markets.
'Air cargo demand was up 18.4 per cent year-on-year in January. This is a strong start to the year. In particular, the booming e-commerce sector is continuing to help air cargo demand to trend above growth in both trade and production since the last quarter of 2023.
'The counterweight to this good news is uncertainty over how China's economic slowdown will unfold. This will be on the minds of air cargo executives meeting in Hong Kong for the IATA World Cargo Symposium with an agenda focused on digitisation, efficiency and sustainability,' said IATA director general Willie Walsh.
Asia-Pacific airlines saw their air cargo volumes increase by 24.6 per cent in January 2024 compared to the same month in 2023. This performance was above the previous month (+18.5 per cent).
North American carriers had the weakest performance of all regions in January with a 9.3 per cent increase in cargo volumes. This was an improvement in performance compared to December (+2.0 per cent).
European carriers saw their air cargo volumes increase by 16.4 per cent in January compared to the same month in 2023. This was a stronger performance than in December (+8.6 per cent).
Middle Eastern carriers had the strongest performance in January 2024, with a 25.9 per cent year-on-year increase in cargo volumes. This was a significant improvement from the previous month's performance (+18.3 per cent).
Latin American carriers experienced a 13.4 per cent increase in cargo volumes compared to January 2023, a notable increase compared to the previous month's gain (+6.4 per cent). Capacity in January was up 6.6 per cent compared to the same month in 2023.
African airlines saw their air cargo volumes increase by 17.0 per cent in January 2024, much improved compared to December's performance (-1.2 per cent).
SeaNews Turkey