November 9, 2023
According to data for the month of September released by the International Air Transport Association (IATA) global air cargo demand, measured in cargo tonne-kilometers (CTKs*), increased by 1.9% compared to September 2022 levels (+6% for international operations).
Capacity, measured in available cargo tonne-kilometers (ACTKs), was up 12.1% compared to September 2022. Growth was largely related to international belly capacity which rose 31.5% year-on-year as airlines scaled up operations to meet peak-northern summer travel season demand.
Asia-Pacific airlines saw their air cargo volumes increase by 7.7% in September 2023 compared to the same month in 2022 while North American carriers had the weakest performance, with a 2.2% decrease in cargo volumes. European carriers saw their air cargo volumes decline by 1.5% in September compared to the same month in 2022
"Air cargo eked out modest growth (1.9%) in September despite falling trade volumes and high jet fuel prices. That clearly shows the strength of air cargo's value proposition. With the key export order and manufacturing PMIs hovering near positive territory, we can be cautiously optimistic for a strong year-end peak season," said Willie Walsh, IATA's Director General.
Source: IATA