According to the International Air Transport Association (IATA), global air cargo demand rose by 11.4% year-over-year (y/y) in August. Cargo capacity grew by 6.2% y/y, driven by a 10.9% rise in international belly capacity.

Despite record capacity levels and lower fuel costs, yields rose by 11.7% y/y and is 46% above pre-pandemic levels. Willie Walsh, IATA’s Director General, cited steady global trade, e-commerce growth, and limited maritime capacity as key drivers for air cargo’s strong performance.

Regionally, Asia-Pacific leads with a 14.6% y/y increase in air cargo demand with solid performances in Asia-Africa, Asia-Europe, and within-Asia markets. However, intra-Asia demand slowed due to unrest in Bangladesh and Typhoon Shanshan in Japan.

North American airlines experienced the lowest growth at 4.8%, though demand on the Asia-North America route grew by 9.3%. European carriers saw a 13.5% increase, with the Middle East-Europe trade lane up by 28.9%. Latin American and African airlines also posted gains, with 14.2% and 7.5% growth, respectively.

While air cargo demand remained strong, global economic signals were mixed, with manufacturing output and new export orders showing signs of contraction. Inflation in the U.S. and EU dropped, but Japan and China experienced slight increases.

Source: Air Cargo News