The International Air Transport Association (IATA) has warned that while 2024 is shaping up to be a banner year for air cargo, 2025 should be viewed with caution , as Donald Trump, the incoming president of the United States, has announced tariffs on Canada, China and Mexico, which could affect global supply chains.
“The incoming Trump administration’s announced intention to impose significant tariffs on its major trading partners – Canada, China and Mexico – has the potential to disrupt global supply chains and undermine consumer confidence,” said Willie Walsh, IATA’s Director General.
He said the air cargo industry’s proven adaptability to rapidly evolving geopolitical and economic situations “is likely to be tested as the Trump agenda unfolds.”
Global air cargo throughput reported its fifteenth month of strong annual growth , with total demand, measured in cargo tonne-kilometers (CTKs), up 9.8% compared to October 2023 levels (10.3% for international operations).
While capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 5.9% compared to October 2023 (7.2% for international operations).
He explained that this was largely due to an 8.5% increase in international belly capacity. Dedicated cargo ship capacity increased by 5.6%, the seventh consecutive month of growth, with volumes approaching 2021 peak levels.
“Air cargo markets continued their strong performance in October, with demand up 9.8% year-on-year and capacity increasing 5.9%. Global air cargo yields (including surcharges) continue to rise, up 10.6% from 2023 and 49% from 2019,” he said.
During this period, Latin American airlines recorded an 18.5% year-on-year growth in air cargo demand, the highest growth among regions. Capacity increased by 5.8% year-on-year.
While African airlines posted a 1.6% rise, the slowest among regions, capacity rose 7.7% year-on-year.
IATA said international routes experienced exceptional traffic levels for the fifth consecutive month, with a year-on-year increase of 10.3% in October.
“Airlines are benefiting from growing demand for e-commerce in the United States and Europe amid current capacity constraints in maritime transport,” he said.
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