Asia Pacific airlines report 14% demand growth for cargo in April
Air cargo demand continues strong growth into Q2, says IATA in its monthly update
Global air cargo markets are showing strong annual growth in demand into the second quarter (Q2).
Total demand, measured in cargo tonne-kilometers (CTKs), rose by 11.1 percent in April compared to the same period last year (11.6 percent for international operations), according to the latest update from the International Air Transport Association (IATA).
Capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 7.1 percent compared to April 2023 (10.2 percent for international operations).
"Air cargo demand started Q2 with a solid 11.1 percent increase," says Willie Walsh, Director General, IATA. "While many economic uncertainties remain, it appears that the roots of air cargo’s strong performance are deepening. In recent months, air cargo demand grew even when the Purchasing Managers Index (PMI) was indicating the potential for contraction. With the PMI now indicating growth, the prospects for continued strong demand are even more robust."
April regional performance
Asia Pacific airlines saw 14 percent year-on-year demand growth for air cargo in April – the strongest of all regions. Demand within the Asia market grew by 13.2 percent compared to April 2023, and the Asia-Europe route grew by 17.7 percent. Capacity increased by 7.8 percent year-on-year.
North American carriers saw seven percent YoY demand growth for air cargo in April — the weakest among all regions. Demand on the Asia-North America trade lane increased 7.3 percent year-on-year while the North America-Europe route saw an increase of 5.6 percent, marking the largest demand growth for this route since September 2022. April capacity increased four percent YoY.
European carriers saw 12.7 percent YoY demand growth for air cargo in April. Intra-European air cargo rose by 34.4 percent compared to April 2023, reflecting the highest annual growth in over a decade and a jump of 8.1ppt compared to the month before. Europe–Middle East routes saw demand increase by 30.1 percent, experiencing a drop of 8.5ppt compared to the previous month’s figure. April capacity increased 10.3 percent year-on-year.
Middle Eastern carriers saw 9.4 percent year-on-year demand growth for air cargo in April. The Middle East–Europe market performed particularly well with 30.1 percent annual growth. April capacity increased 5.7 percent YoY.
Latin American carriers saw 11.7 percent year-on-year demand growth for air cargo in April. Capacity increased 9.8 percent year-on-year.
African airlines saw 10.6 percent year-on-year demand growth for air cargo in April. Demand on the Africa–Asia market increased by 25.8 percent compared to April 2023. April capacity increased by 18.7 percent year-on-year.
