Middle East Cargo demand increases by 1.5% in August

Global air cargo demand grew in August by 1.5 per cent YOY as measured in cargo tonne-kilometers (CTKs), the first improvement since February 2022, as per IATA’s latest data. Willie Walsh, Director General, IATA said, “It is essential to stay cautious despite the positive news. While there are lingering concerns, the upcoming busy year-end season offers a reason for cautious optimism.” The capacity for shipping goods by air, measured in available cargo tonne-kilometers (ACTKs), went up by 12.2 per cent year-on-year because airlines increased belly capacity by 30 per cent to meet the high summer travel demand. The growth came amid the improvement, albeit slower, in manufacturing and exports in August; shrinking trade for the last four months in a row; and mixed inflation. Airlines in the Middle East saw a 1.4 per cent increase, a departure from -0.1 per cent recorded in July. The space for cargo in planes rose by 15.7 per cent.