IATA: Air cargo demand maintains double-digit growth in February

The air cargo industry is off to a strong start in 2024, with demand growing 11.9% in February compared to the same month last year. This is the third consecutive month of double-digit growth.

Here are some key takeaways from the IATA report for February 2024:

• Demand growth is outpacing global trade growth, potentially exceeding pre-pandemic highs.
• Belly cargo capacity from passenger flights is a major contributor to the growth, with freighter capacity increasing only slightly.
• Africa and the Middle East saw the strongest demand growth, while North America lagged behind.

It’s important to note that a few factors might influence this growth:

• Slowing economic indicators such as the new export orders PMI remaining below the growth threshold.
• Inflation rising in some regions.

Overall, the report highlights the air cargo industry’s resilience despite economic uncertainties.