Air cargo demand maintains strong growth in February

Air cargo data for February 2024 from the International Air Transport Association (IATA) has shown a total demand (measured in cargo tonne kilometres) rose by 11.9% compared to February 2023 levels. International operations rose by 12.4%. It marks the third consecutive month of double-digit year-on-year demand growth. Capacity (measured in available cargo tonne-kilometres) increased by 13.4% YoY and by 16% for international operations. This was mostly related to the increase in international belly capacity accompanying growth in passenger markets at 29.5% YoY increase, far exceeding international capacity on freighters at 3.2% YoY increase. ""February’s demand growth of 11.9% far outpaced the 0.9% expansion in cross-border trade,"" said IATA director general Willie Walsh. ""This strong start for 2024 could see demand surpass the exceptionally high levels of early 2022. It also shows air cargo’s strong resilience in the face of continuing political and economic uncertainties."" Demand was particularly strong in Africa and the Middle East with CTKs increasing YoY at 22% and 20.9%, respectively.