October 5, 2023
According to data for the month of August released by the International Air Transport Association (IATA) global air cargo demand grew for the first time in 19 months.
Global demand, measured in cargo tonne-kilometers (CTKs), increased by 1.5% compared to August 2022 levels (2% for international operations).
Capacity, measured in available cargo tonne-kilometers (ACTKs), was up 12.2% compared to August 2022 (8% for international operations). This was largely related to belly capacity which rose 30% year-on-year as airlines ramped-up operations to meet peak-northern summer travel season demand.
"Air cargo demand grew by 1.5% over the previous August. This is the first year-on-year growth in 19 months, so it is certainly welcome news. But it is off a low 2022 base and market signals are mixed," said Willie Walsh, IATA's Director General. "Looking ahead, while many uncertainties remain, we can take some optimism from PMI data moving towards positive territory. This is particularly significant as we head into air cargo's traditional peak year-end season."
Source: IATA