Air Cargo Demand Continues Strong Growth into Q2 – 2024

Director ASIM Sandro VR, may 29

The International Air Transport Association (IATA) released data for April 2024, showing robust annual growth in global air cargo demand into the second quarter (Q2). Total demand, measured in cargo tonne-kilometers (CTKs), increased by 11.1% compared to April 2023, with international operations seeing a rise of 11.6%. This marks the fifth consecutive month of double-digit year-on-year growth. Capacity, measured in available cargo tonne-kilometers (ACTKs), also grew by 7.1% compared to April 2023, with a 10.2% increase for international operations.

Air cargo demand started Q2 with a solid 11.1% increase. While many economic uncertainties remain, it appears that the roots of air cargo’s strong performance are deepening. In recent months, air cargo demand grew even when the Purchasing Managers Index (PMI) was indicating the potential for contraction. With the PMI now indicating growth, the prospects for continued strong demand are even more robust,” said Willie Walsh, IATA’s Director General. Notably, the PMIs for global manufacturing output and new export orders turned positive in April, and industrial production increased by 1.6% year-on-year in March, although global cross-border trade contracted by 0.8%. Inflation rates remained relatively stable across major economies, with slight increases in consumer prices in China, signaling potential resilience in the face of economic slowdown concerns.

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