IATA Reports Continued Growth In Air Cargo

IATA has published its latest Air Cargo Market Analysis where it found that air cargo growth continued to outpace macro indicators

  • Industry-wide air cargo demand continued the momentum from previous months in February and registered the third consecutive month of double-digit year-on-year (YoY) growth in cargo tonne-kilometers (CTKs) with 11.9%.
  • International CTKs expanded by 12.4% YoY globally, supported by all regions. The annual growth was championed by carriers from Africa and the Middle East.
  • Industry-wide air cargo capacity, measured by available cargo tonne-kilometers (ACTK), increased by 13.4% YoY, largely due to the continued expansion of international passenger belly-hold capacity.
  • The YoY expansion in traffic continued to outpace YoY growth in trade and production figures.
  • Industry-wide air cargo yields declined by 1.5% compared to January, despite an average uptick in the jet fuel price and still with no discernible upward pressure from the Red Sea Shipping Crisis
February brought the third consecutive month of double-digit YoY growth in air cargo demand

The air cargo industry registered a total of 19.7 billion CTKs in February, which represents an increase of
11.9% YoY.
This marks the third consecutive month of double-digit YoY growth after accounting for a seasonally reduced activity in Asia Pacific after the Lunar New Year mid-month. Notably, February 2024 was a leap year with one extra day compared to February 2023, which slightly exaggerates annual growth rates to the positive.