IATA: Air cargo sees surge, volumes surpass 2019 levels

The global air cargo industry has witnessed a continued surge in demand during the first half of 2024. According to the latest data released by IATA, it has been an exceptional period for air cargo.  This remarkable rebound growth has not only surpassed the previous year’s figures but has also outperformed the record-breaking levels seen in 2021. Total demand rose by 13.4 per cent compared to the same period in 2023. This performance reflects a growth in the sector, despite ongoing global challenges. Alongside the surge in demand, capacity has also expanded, albeit at a slower pace. Available cargo tonne-kilometers (ACTKs) increased by 8.8 per cent compared to June 2023. Overall, international operations saw a 10.8 per cent rise. This disparity between demand and capacity growth suggests a tightening market, potentially leading to higher yields for carriers.