Global air cargo movement continued its fifth month of growth, as it recorded an 11.1% year-on-year increase in April, reported the International Air Transport Association (IATA).
Meanwhile, capacity, measured in available cargo tonne-kilometers (ACTK), increased by 7.1% compared to the same period in 2023 (10.2% for international operations).
“Air cargo demand started the second quarter with a solid 11.1% increase. While many economic uncertainties persist, it appears that the roots of strong air cargo performance are deepening,” said Willie Walsh, Director General of IATA.
In a statement, it was noted that in recent months, air cargo demand has grown even when the Purchasing Managers’ Index (PMI) indicated the potential for contraction. “Now that the PMI indicates growth, the outlook continues to be more solid.”
It was highlighted that in April alone, the PMIs for global manufacturing production and new export orders were positive (51.5 and 50.5, respectively). This marks the first time in two years that they have recorded growth.
Similarly, inflation remained relatively stable in the United States, the European Union, and Japan, with rates of 3.4%, 2.6%, and 2.5%, respectively. China reported a year-on-year increase of 0.2% in consumer prices, a positive sign amidst concerns about the economic slowdown in the country.
Against this backdrop, airlines in the Asia-Pacific region experienced a 14% year-on-year increase in air cargo demand in April, the strongest of all regions. Demand within the Asian market grew by 13.2% compared to the same month in 2023, and the Asia-Europe route grew by 17.7%.
The Middle East-Asia route increased by 10.4%, 9.5 percentage points less than the growth recorded in March. Capacity increased by 7.8% year-on-year.
As for North American airlines, they had the weakest increase among all regions, as they ended with a 7% rise in that period. Demand on the Asia-North America commercial route grew by 7.3% year-on-year, while that of North America-Europe experienced a 5.6% increase, the largest increase on this route since September 2022. April capacity increased by 4% year-on-year.
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