AIR cargo volumes remained robust in October as traffic was up year on year for the fifteenth consecutive month, but IATA warned that the coming 12 months should be viewed with caution.
The latest statistics from IATA show that in October demand in cargo tonne km (CTK) terms increased by 9.8 per cent compared with last year, while capacity in available CTKs was up 5.9 per cent and the cargo load factor increased by 1.7 percentage points to 47.3 per cent.
The increased capacity was largely driven by the addition of international belly hold space, which was up 8.5 per cent, while dedicated freighter capacity increased by 5.6 per cent as levels neared 2021 peak levels, IATA said.
IATA director general Willie Walsh said that air cargo yields in October were up 10.6 per cent on 2023 and 49 per cent on 2019 but added the demand outlook for next year was less positive, reports London's Air Cargo News.
'Global air cargo yields (including surcharges) continue to rise, up 10.6 per cent on 2023 and 49 per cent on 2019 levels. While 2024 is shaping up to be a banner year for air cargo, we must look to 2025 with some caution.
'The incoming Trump Administration's announced intention to impose significant tariffs on its top trading partners - Canada, China and Mexico - has the potential to upend global supply chains and undermine consumer confidence.
'The air cargo industry's proven adaptability to rapidly evolving geopolitical and economic situations is likely to be tested as the Trump agenda unfolds.'
Looking at regional performance, Asia Pacific airlines registered a 13.4 per cent year-on-year demand growth for air cargo in October and capacity increased by 9.3 per cent.
Cargo demand at North American carriers was up 9.5 per cent compared with last year and capacity increased by 5.8 per cent.
European carriers registered 7.6 per cent demand growth for the month and capacity increased 3.9 per cent, while Middle Eastern carriers saw cargo traffic improve 4.5 per cent and capacity was up 0.8 per cent.
Latin American carriers noted an 18.5 per cent year-on-year improvement for the month, the strongest growth among the regions, and capacity increased 5.8 per cent.
Finally, African airlines saw 1.6 per cent year-on-year demand growth for air cargo in October, the slowest among regions, and capacity increased by 7.7 per cent.
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The latest statistics from IATA show that in October demand in cargo tonne km (CTK) terms increased by 9.8 per cent compared with last year, while capacity in available CTKs was up 5.9 per cent and the cargo load factor increased by 1.7 percentage points to 47.3 per cent.
The increased capacity was largely driven by the addition of international belly hold space, which was up 8.5 per cent, while dedicated freighter capacity increased by 5.6 per cent as levels neared 2021 peak levels, IATA said.
IATA director general Willie Walsh said that air cargo yields in October were up 10.6 per cent on 2023 and 49 per cent on 2019 but added the demand outlook for next year was less positive, reports London's Air Cargo News.
'Global air cargo yields (including surcharges) continue to rise, up 10.6 per cent on 2023 and 49 per cent on 2019 levels. While 2024 is shaping up to be a banner year for air cargo, we must look to 2025 with some caution.
'The incoming Trump Administration's announced intention to impose significant tariffs on its top trading partners - Canada, China and Mexico - has the potential to upend global supply chains and undermine consumer confidence.
'The air cargo industry's proven adaptability to rapidly evolving geopolitical and economic situations is likely to be tested as the Trump agenda unfolds.'
Looking at regional performance, Asia Pacific airlines registered a 13.4 per cent year-on-year demand growth for air cargo in October and capacity increased by 9.3 per cent.
Cargo demand at North American carriers was up 9.5 per cent compared with last year and capacity increased by 5.8 per cent.
European carriers registered 7.6 per cent demand growth for the month and capacity increased 3.9 per cent, while Middle Eastern carriers saw cargo traffic improve 4.5 per cent and capacity was up 0.8 per cent.
Latin American carriers noted an 18.5 per cent year-on-year improvement for the month, the strongest growth among the regions, and capacity increased 5.8 per cent.
Finally, African airlines saw 1.6 per cent year-on-year demand growth for air cargo in October, the slowest among regions, and capacity increased by 7.7 per cent.
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