Air cargo demand still climbing
The International Air Transport Association (Iata) has released data for global air cargo markets in July 2024 showing continuing strong annual rise in demand. Total demand, measured in cargo tonne-kilometers (CTKs*), rose by 13.6% compared to July 2023 levels (14.3% for international operations).
This is the eighth consecutive month of double-digit year-on-year growth, with overall levels reaching heights not seen since the record peaks of 2021.
Capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 8.3% compared to July 2023 (10.1% for international operations). This was largely related to the expansion of international belly capacity, which rose 12.8% on the strength of passenger markets and balanced the 6.9% growth of international freighter capacity.
The uptick in belly capacity is the lowest in 40 months whereas the growth in freighter capacity is the highest since an exceptional jump was recorded in January 2024. (cj)