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Air Cargo Demand Rose By 11.9% In February – Airlines From Africa, Middle East Recorded Highest Annual Growth
Air cargo demand rose by 11.9 percent in February 2024, thanks to the 19.7 billion Cargo Tonne Kilometres (CTK) registered for the month.
Only two regions, Africa and Latin America, experienced Month on month (or MoM) expansions in February.
Airlines registered in Africa and the Middle East recorded the highest annual growth rates, with 21.9 percent and 20.9 percent respectively.
They were followed by carriers from Europe (15.0% YoY), Latin America (13.4%), and Asia Pacific (11.2%).
The lowest annual growth was seen by North American airlines with 3.2 percent YoY, down from 14.1 percent in January.
The air cargo industry registered a total of 19.7 billion Cargo Tonne Kilometres (CTK) in February 2024, which represents an increase of 11.9% YoY, according to the data released by International Air Transport Association (IATA).
The solid 11.9% YoY growth in the cargo industry CTKs is attributed to the demand on international routes, which expanded by 12.4 percent YoY in February 2024.
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Only two regions, Africa and Latin America, experienced Month on month (or MoM) expansions in February, with 2.9% and 1.6% respectively, while North America recorded the lowest.
“In particular, airlines registered in Africa and the Middle East recorded the highest annual growth rates, with 21.9% and 20.9%, in that order. They were followed by carriers from Europe (15.0% YoY), Latin America (13.4%), and Asia Pacific (11.2%).
The lowest annual growth in February was seen by North American airlines with 3.2 percent YoY, down from 14.1 percent in January.
Also in February, the Africa–Asia and Middle East–Europe trade lanes experienced 42.3% and 39.3% YoY growth respectively, while growth rates on the Middle East–Asia and Europe–Asia routes dropped considerably to 21.0% and 14.3%, respectively.
In comparison, the North America–Europe trade lane grew by 5.2% YoY in February, up registered an outstanding 29.5% annual increase in February.
