The International Air Transport Association (IATA) released data for January 2024 global air cargo markets indicating a strong start to 2024.

According to International Air Transport Association (IATA) data for January, global air cargo markets got off to a strong start for 2024, with total demand, measured in cargo tonne-kilometers, increasing by 18.4% compared to January 2023 levels – or 19.8% for international operations. This significant upturn marks the highest annual growth in cargo tonne-kilometers since the summer season of 2021, says IATA.

Capacity, measured in available cargo tonne-kilometres, was up 14.6% compared to January 2023 (18.2% for international operations). This was largely related to the growth in belly capacity. International belly capacity rose 25.8% year-on-year on the strength of passenger markets.

“Air cargo demand was up 18.4% year-on-year in January. This is a strong start to the year. In particular, the booming e-commerce sector is continuing to help air cargo demand to trend above growth in both trade and production since the last quarter of 2023. The counterweight to this good news is uncertainty over how China’s economic slowdown will unfold,” said Willie Walsh, IATA’s Director General.

Also, air cargo growth outpaced trade and production.
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