Global air cargo demand declined last February after steady growth since mid-2023. The International Air Transport Association (IATA) said this was due to 2024 being a leap year, but also to U.S. tariff measures.
Willie Walsh, the agency’s director general, indicated that the contraction is due to the “extraordinary month of February 2024,” a leap year that was also driven by Chinese New Year traffic, shipping lane closures, and the boom in e-commerce.
“Rising trade tensions are, of course, a concern for air cargo. With stock markets already showing their discontent, we urge governments to focus on tariff dialogue,” he said.
IATA reported that total demand, measured in cargo tonne-kilometers (CTKs), decreased 0.1% from February 2024 levels, while capacity, measured in available cargo tonne-kilometers (ACTKs), decreased 0.4% from the same month last year.
Last February, Latin American airlines recorded year-over-year growth in air cargo demand of 6%, the highest growth among regions. Capacity increased by 7.6% year-over-year.
While Middle Eastern airlines experienced a year-over-year decline of 11.9%, the slowest among regions, capacity decreased by 4% year-over-year.
“The transpacific corridor remained the busiest trade route in February. Intra-Asia led the growth, becoming the fifth busiest. Europe-Asia and transatlantic routes also expanded, while the Middle East-Asia and Europe routes declined,” the organization detailed.
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