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News 2024


February 2024 IATA Air Freight Market Analysis 
Published April 3. IATA Economic Reports.

Positive air cargo growth continues 


Highlights

  • Industry-wide air cargo demand continued the momentum from previous months in February and registered the third consecutive month of double-digit year-on-year (YoY) growth in cargo tonne-kilometers (CTKs) with 11.9%.
  • International CTKs expanded by 12.4% YoY globally, supported by all regions. The annual growth was championed by carriers from Africa and the Middle East.
  • Industry-wide air cargo capacity, measured by available cargo tonne-kilometers (ACTK), increased by 13.4% YoY, largely due to the continued expansion of international passenger belly-hold capacity.
  • The YoY expansion in traffic continued to outpace YoY growth in trade and production figures.
  • Industry-wide air cargo yields declined by 1.5% compared to January, despite an average uptick in the jet fuel price and still with no discernible upward pressure from the Red Sea Shipping Crisis.

African airline cargo volumes up 21.9% YoY

African airlines recorded the highest YoY growth rate of 21.9%, and the highest MoM expansion of 2.9%. The Africa-Asia trade lane experienced a 42.3% YoY growth. Positive annual growth in international air cargo traffic was recorded across the board in February, led by African and Middle Eastern carriers, and expanding on European route areas. 


February brought the third consecutive month of double-digit YoY growth in air cargo demand

The air cargo industry registered a total of 19.7 bn CTKs in February, which represents an increase of 11.9% YoY. This marks the 3rd consecutive month of double-digit YoY growth after noting a seasonally reduced activity in Asia Pacific after the Lunar New Year mid-month. Notably, February 2024 was a leap year with one extra day compared to February 2023, slightly exaggerating annual growth rates to the positive. Download the full report...