Global air cargo markets showed a strong annual growth in demand in Q2 of 2024, IATA stated in the released the data for April 2024. Among the key highlights, the total demand, measured in cargo tonne-kilometers (CTKs), rose by 11.1 per cent compared to April 2023 levels (11.6% for international operations).
This is the fifth consecutive month of double-digit YoY growth. Capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 7.1 per cent compared to April 2023 (10.2% for international operations). “Air cargo demand started Q2 with a solid 11.1 per cent increase. While many economic uncertainties remain, it appears that the roots of air cargo’s strong performance are deepening.
In recent months, air cargo demand grew when PMI was indicating a potential for contraction. With the PMI now indicating growth, the prospects for continued strong demand are even more robust,” said Willie Walsh, Director General IATA. Airlines from Asia Pacific and Europe recorded the highest growth rates, putting an end to the Middle Eastern carriers’ seven-month run in topping the region’s annual expansions.
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