Air cargo demand rose 10% in March

Air cargo demand, measured in cargo tonne-kilometres (CTKs), rose by 10.3 in March 2024, compared to March 2023, data from the International Air Transport Association (IATA) showed. Global capacity, measured in available cargo tonne-kilometres (ACTKs), increased by 7.3% compared to March 2023, with capacity for international operations increasing by 10.5%. ""Air cargo demand grew by 10.3% over the previous March,"" said IATA director general Willie Walsh. ""This contributed to a strong first quarter performance which slightly exceeded even the exceptionally strong 2021 first quarter performance during the COVID crisis."" The report added that global cross-border trade and industrial production increased by 1.2% and 1.6%, respectively, in February 2024. Walsh added: ""With global cross-border trade and industrial production continuing to show a moderate upward trend, 2024 is shaping up to be a solid year for air cargo."" Asia Pacific, which represents 33.3% of the world share of CTKs, saw a 14.3% increase year-on-year (YoY) on both its CTKs and ACTKs. The North American region, which represents 26.9% saw CTKs increase marginally at 0.9% YoY and ACTKs decrease by 1.9% YoY.