Middle East-Asia trade lane grew by 15.9% year-on-year, according to the latest report by IATA. Middle Eastern carriers saw 14.7 per cent year-on-year demand growth for air cargo in July. The Middle East–Europe trade lane performed particularly well surging 32.2%. July capacity increased 4.4% year-on-year. IATA released data for July 2024 global air cargo markets showing continuing strong annual growth in demand. Total demand, measured in cargo tonne-kilometres rose by 13.6 per cent compared to July 2023 levels (14.3% for international operations). This is the eighth consecutive month of double-digit year-on-year growth, with overall levels reaching heights not seen since the record peaks of 2021. Capacity, measured in available cargo tonne-kilometers, increased by 8.3 per cent compared to July 2023 (10.1% for international operations). “Air cargo demand hit record highs year-to-date in July with growth across all regions. The air cargo business continues to benefit from growth in global trade, booming e-commerce and capacity constraints on maritime shipping. With the peak season still to come, it is shaping to be a very strong year for air cargo. And airlines have proven adept at navigating political and economic uncertainties to flexibly meet emerging demand trends,” Willie Walsh, Director General, IATA, said.
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