Total demand, measured in cargo tonne-kilometres (CTKs), rose by 9.4 percent in September 2024 compared to September 2023 (10.5 percent for international operations) for a 14th consecutive month of growth.
Capacity, measured in available cargo tonne-kilometres (ACTKs), increased by 6.4 percent compared to September 2023 (8.1 percent for international operations), according to the latest data from the International Air Transport Association (IATA). “This continued to be largely related to the growth in international belly capacity, which rose 10.3 percent, extending the trend of double-digit annual capacity growth to 41 consecutive months.”
Willie Walsh, Director General, IATA says: “September performance brought continued good news for air cargo markets. With 9.4 percent year-on-year growth, cargo volumes continued to mark all-time highs for demand. Yields are also improving, up 11.7 percent on 2023 and 50 percent above 2019 levels. All this points to a strong finish for this year. For longer-term trends, the air cargo world will be closely following the outcome of the U.S. election for indications of how US trade policy will evolve.”
Regional performance
Asia-Pacific airlines saw 11.7 percent year-on-year demand growth, and capacity increased by 8.5 percent year-on-year.
North American carriers saw 3.8 percent year-on-year demand growth and capacity increased by 4.2 percent.
European carriers saw 11.7 percent demand growth and capacity increased 7.5 percent.
Middle Eastern carriers saw 10.1 percent year-on-year demand growth for air cargo in September. Capacity increased 2.9 percent year-on-year.
Latin American carriers saw 20.9 percent year-on-year demand growth, the strongest growth among the regions. Capacity increased 7.9 percent year-on-year.
African airlines saw 1.7 percent demand growth while capacity increased by 13.9 percent.
Trade lane growth
International routes experienced exceptional traffic levels for a fifth month, with a 10.5 percent year-on-year increase in September.
“Airlines are benefiting from rising e-commerce demand in the U.S. and Europe amid ongoing capacity limits in ocean shipping,” the update added.
Asia-North America lane reported 7.6 percent demand growth with a share of 25 percent and 11 consecutive months of growth.
Within Europe reported 18 percent demand growth with 1.9 percent share and 10 consecutive months of double digit growth.