Cargo Breaking News
IATA has released the data for global air cargo markets for November 2024. Asia-Pacific airlines saw a demand growth of 13.2 per cent YoY (measured in cargo tonne-kilometers), the strongest growth among all regions. The capacity increased by 9.4 per cent YoY during the same period. The Asia-North America trade lane saw a 13th consecutive month of growth (13 per cent YoY) whereas the Europe-Asia trade lane saw a consecutive 21 months of growth (12.9 per cent) during the same period. The global air cargo demand growth for November 2024 rose to 8.2 per cent YoY, which resulted in 16 consecutive months of consecutive growth.
“It was a good November for air cargo with 8.2 per cent demand growth nearly doubling the 4.6 per cent growth in cargo capacity. Fuel costs tracked at 22 per cent below previous-year levels and tight market conditions supported yield growth at 7.8 per cent. All things considered we are looking to close out 2024 air cargo performance on a profitable note. While this strong performance is very likely to extend into 2025, there are some downside risks that must be carefully watched. These include inflation, geopolitical uncertainties and trade tensions,” Willie Walsh, IATA’s Director General, said.
