Total demand, measured in cargo tonne-kilometers rose by 11.9 per cent compared to February 2023 levels (12.4% for international operations). This is the third consecutive month of double-digit YoY demand growth, IATA latest data for February 2024 stated.
“This strong start for 2024 could see demand surpass exceptionally high levels of early 2022. It also shows air cargo’s resilience in the face of continuing political and economic uncertainties,” Willie Walsh, DG, IATA, said.
Capacity, measured in available cargo tonne-kilometers, increased by 13.4 per cent compared to February 2023 (16.0% for international operations). This was related to the increase in global belly capacity accompanying growth in passenger markets (29.5% YoY increase), which far exceeded global capacity on freighters (3.2% YoY increase).