IATA recently released the statistical data analysis of global air cargo market for June 2024. The cargo load factor (CLF) for Middle East region has spiked to 47.3 per cent which is close to global leaders, Europe and Asia-Pacific. The CLF levels for Europe and Asia-Pacific have surged to 50.7 per cent and 49.6 per cent, respectively. The CLF has a proportional impact on the cost of shipping in the cargo sector. Higher cargo load factor would mean that there is less space available on the freighter which would enhance the cost per kg to shift goods.
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