Even though air cargo volumes were boosted by seasonal e-commerce demand from the Middle East and Asia in November 2023, Xeneta, however, is doubtful the air cargo industry will see continued stronger demand. Niall van de Wouw, Chief Airfreight Officer, Xenete, said, while the vertical is fueling the need for capacity, “this is a local shift and not a bellwether for a changing global economic tide”. November was the first month this year that saw demand outstrip supply, but, echoing IATA’s concerns, the rate analytics platform stated global air freight capacity will likely continue to outpace market demand next year. “This is due to anticipated weak consumer spending in H1 2024 and a continuing recovery in belly capacity for certain markets next year, boosted by improving passenger travel,” it stated. e-commerce demand from Asia to Europe and the USA has seen air cargo volumes rise, but this should not be relied upon to see cargo demand, in what is already a subdued market, sustained into next year, Xeneta explained.