The International Air Transport Association (IATA) reported a 13.6% increase in global air cargo tonne-kilometres in July 2024 compared to the same period in 2023.
This marks the eighth consecutive month of double-digit growth, driven by robust global trade, booming e-commerce, and limited maritime shipping capacity.
However, African airlines experienced the lowest demand growth among all regions, with a year-on-year increase of just 6.2%, their weakest performance in 2024.
IATA highlighted that global cargo capacity rose by 8.3% in July 2024, bolstered by a 12.8% increase in international belly capacity due to a strong passenger market.
In contrast, international freighter capacity grew by 6.9%, the highest since January’s exceptional surge. Despite the overall growth, the increase in belly capacity was the lowest in 40 months.
Willie Walsh, IATA’s Director-General, noted that air cargo demand has reached record highs year-to-date, with expectations of a strong peak season ahead.
He emphasized that airlines have effectively adapted to political and economic challenges, positioning the industry for continued growth.