IATA: June air cargo demand surges 14.1%, boosting strong first half performance

The International Air Transport Association (IATA) reported a significant 14.1% increase in global air cargo demand in June 2024 compared to June 2023. This surge has contributed to a strong performance in the first half of the year, surpassing the volumes of 2023, 2022, and the record-breaking 2021 levels.

Key highlights include:

• Total Demand: Cargo tonne-kilometres (CTKs) increased by 14.1%, with international operations up by 15.6%. Capacity rose by 8.8%.
• First Half-Year Performance: Demand increased by 13.4% compared to H1 2023, 4.3% compared to H1 2022, and 0.02% compared to H1 2021.
• Regional Performance:
  • Asia-Pacific: 17.0% demand growth, capacity up by 10.7%.
  • North America: 9.5% demand growth, capacity up by 6.0%.
  • Europe: 16.1% demand growth, capacity up by 9.1%.
  • Middle East: 13.8% demand growth, capacity up by 6.9%.
  • Latin America: 13.1% demand growth, capacity up by 15.5%.
  • Africa: 11.8% demand growth, capacity up by 23.8%.

The IATA noted strong growth across all regions and major trade lanes, driven by constraints in maritime shipping and a booming e-commerce sector. Despite ongoing political and economic challenges, the air cargo sector has remained resilient. The report highlighted the importance of efficient operations to sustain the strong performance into the second half of 2024.