African airlines lead global air cargo demand growth in Feb. 2024

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A new report by the International Air Transport Association (IATA) has revealed that African airlines experienced a remarkable 22% year-on-year increase in demand for air cargo in February.

This growth rate was the highest among all regions, indicating a strong performance by African carriers in the air cargo market. Notably, the intra-Africa trade lane demonstrated exceptional growth, with a staggering 42.3% year-on-year increase in demand, while capacity also expanded by 28.2% compared to the previous year.

The data released by IATA for February 2024 highlights the ongoing robust growth in global air cargo markets, with demand increasing by 11.9% compared to the same period last year. This significant growth in demand surpassed the expansion rate of cross-border trade, which stood at 0.9%.

Willie Walsh, Director General of IATA, commented on the strong start for 2024, suggesting that this momentum could lead to surpassing the exceptionally high levels of early 2022. He emphasized the resilience of the air cargo industry despite prevailing political and economic uncertainties.

Source: PUNCH

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