The International Air Transport Association (IATA) has released data for May 2024 global air cargo markets showing continuing strong annual growth in demand. According to the report, “African airlines saw 18.4% year-on-year demand growth for air cargo in May – the strongest of all regions. Demand on the Africa–Asia market increased by 40.6% compared to May 2023, the strongest performance of all trade lanes. May capacity increased by 21.4% year-on-year.”
- Total demand, measured in cargo tonne-kilometers (CTKs*), rose by 14.7% compared to May 2023 levels (15.5% for international operations). This is the sixth consecutive month of double-digit year-on-year growth.
- Capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 6.7% compared to May 2023 (10.2% for international operations).
Willie Walsh, IATA Director General said: “Air cargo demand moved sharply upwards in May across all regions. The sector benefitted from trade growth, booming e-commerce and capacity constraints on maritime shipping. The outlook remains largely positive with purchasing managers showing expectations for future growth. Some dampening, however, could come as the US imposes stricter conditions on e-commerce deliveries from China.”
| Air cargo market in detail – May 2024 |
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1% of industry CTKs in 2023