Damian Brett of AirCargo News reports that air cargo demand was robust in October, up year on year for the fifteenth consecutive month, but the outlook is less positive. Brett writes:
Air cargo volumes remained robust in October as traffic was up year on year for the fifteenth consecutive month but the coming 12 months should be viewed with caution, according to IATA.
The latest statistics from IATA show that in October demand in cargo tonne km (CTK) terms increased by 9.8% compared with last year, while capacity in available CTKs was up 5.9% and the cargo load factor increased by 1.7 percentage points to 47.3%. […]
IATA director general Willie Walsh said that air cargo yields in October were up 10.6% on 2023 and 49% on 2019 but added the demand outlook for next year was less positive.
“Global air cargo yields (including surcharges) continue to rise, up 10.6% on 2023 and 49% on 2019 levels. While 2024 is shaping up to be a banner year for air cargo, we must look to 2025 with some caution. […]
Looking at regional performance, Asia Pacific airlines registered a 13.4% year-on-year demand growth for air cargo in October and capacity increased by 9.3%.
Cargo demand at North American carriers was up 9.5% compared with last year and capacity increased by 5.8%.
European carriers registered 7.6% demand growth for the month and capacity increased 3.9%.
Middle Eastern carriers saw cargo traffic improve 4.5% and capacity was up 0.8%.
Latin American carriers noted an 18.5% year-on-year improvement for the month, the strongest growth among the regions, and capacity increased 5.8%.
Finally, African airlines saw 1.6% year-on-year demand growth for air cargo in October, the slowest among regions, and capacity increased by 7.7%.
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