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Strong Asia-Pacific cargo demand for July reports International Air Transport Association
August 29th 2024
Asia-Pacific airlines recorded 17.6% year-on-year air freight demand growth last month, the best performance of the six regions worldwide monitored by the International Air Transport Association (IATA). Read More » Cargo tonne kilometers on the Within-Asia trade lane improved 19.8% year-on-year while the Europe-Asia, Middle East-Asia and Asia-Africa trade lanes were higher by 17.9%, 15.9% and 15.4%, respectively. Capacity increased 11.3% year-on-year. Globally, the demand was better by 13.6% compared with July 2023 and higher by 14.3% for international operations. It was the eighth consecutive month of double-digit year-on-year growth for the air cargo sector, with overall levels of demand not seen since the record peaks of 2021. Capacity increased 8.3% compared with July last year, IATA added. “Air cargo demand hit record highs year-to-date in July with strong growth across all regions. The business continues to benefit from growth in global trade, booming e-commerce and capacity constraints on maritime shipping. With the peak season still to come, it is shaping up as a very strong year for air cargo. Additionally, airlines have proven adept at navigating political and economic uncertainties to flexibly meet emerging demand trends,” IATA director general, Willie Walsh, said.
