Global air cargo demand was up 13% during the first two months of 2024 compared to the same period last year, according to WorldACD Market Data analysis. The surge, predominantly fuelled by heightened demand from Middle East & South Asia (MESA) regions, reflects a notable recovery from the customary Lunar New Year (LNY) seasonal dip.
February's preliminary figures depict an 8% year-on-year rise in air cargo tonnages, even after adjusting for the additional leap year day. When combined with January's data, the overall trend illustrates a significant 13% uptick in tonnages compared to the same two-month period in the previous year.
Despite a slight softening in demand post-LNY, tonnages from the MESA region remained considerably higher year-on-year, indicative of sustained demand linked to disruptions in container shipping in the Red Sea.
Overall, global air cargo capacity sustained substantial growth, particularly in Asia Pacific and Central & South America, underlining the industry's resilience and ongoing expansion amidst challenges.
Air cargo tonnages up 13% in first two months of 2024
