AIR cargo demand increased by a 'remarkable' 18.4 per cent year on year in January - the second month in a row of double-digit percentage increases, reports London's Air Cargo News.
IATA data shows that as well cargo tonne kms (CTK) increasing in January, available capacity was up 14.6 per cent year on year as belly space continued to be added to the market and the cargo load factor improved by 1.4 percentage points to 45.7 per cent.
CTKs for the month were also 2.8 per cent up on pre-Covid 2019 levels.
The airline association said the increase in demand was the highest registered since summer 2021 when the world was in recovery mode following the Covid pandemic.
The increase was attributed to rising e-commerce demand, although last year the Lunar New Year holiday took place in mid-January meaning factories were closed in the second half of the month.
There were also reports of some modal shift as a result of the Red Sea shipping crisis.
IATA director general Willie Walsh said: '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.'
IATA added that air cargo demand growth outpaced trade and production.
Global cross-border trade increased by 1 per cent in December compared to the previous month but was down 0.2 per cent year on year.
Looking at regional performance, Asia Pacific airlines saw their air cargo volumes increase by 24.6 per cent year on year in January. North American carriers registered a 9.3% increase in cargo volumes.
European carriers saw their air cargo volumes increase by 16.4 per cent in January, while Middle Eastern carriers had the strongest performance in January 2024, with a 25.9 per cent year-on-year increase in cargo volumes.
SeaNews Turkey
IATA data shows that as well cargo tonne kms (CTK) increasing in January, available capacity was up 14.6 per cent year on year as belly space continued to be added to the market and the cargo load factor improved by 1.4 percentage points to 45.7 per cent.
CTKs for the month were also 2.8 per cent up on pre-Covid 2019 levels.
The airline association said the increase in demand was the highest registered since summer 2021 when the world was in recovery mode following the Covid pandemic.
The increase was attributed to rising e-commerce demand, although last year the Lunar New Year holiday took place in mid-January meaning factories were closed in the second half of the month.
There were also reports of some modal shift as a result of the Red Sea shipping crisis.
IATA director general Willie Walsh said: '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.'
IATA added that air cargo demand growth outpaced trade and production.
Global cross-border trade increased by 1 per cent in December compared to the previous month but was down 0.2 per cent year on year.
Looking at regional performance, Asia Pacific airlines saw their air cargo volumes increase by 24.6 per cent year on year in January. North American carriers registered a 9.3% increase in cargo volumes.
European carriers saw their air cargo volumes increase by 16.4 per cent in January, while Middle Eastern carriers had the strongest performance in January 2024, with a 25.9 per cent year-on-year increase in cargo volumes.
SeaNews Turkey
