Global Air Cargo Demand Up 8.3 Per Cent in November 2023 -- IATA

KUALA LUMPUR, Jan 10  (Bernama) -- Global air cargo demand increased by 8.3 per cent in November 2023 compared to the same month in 2022, while demand growth for international operations stood at 8.1 per cent, according to the International Air Transport Association (IATA).

In a statement Tuesday, the association said capacity, measured in available cargo tonne-kilometres, was up 13.7 per cent compared to November 2022 (+11.6 per cent for international operations).

“Most of the capacity growth continues to be attributable to the increase in belly capacity as international passenger markets continue their post-COVID recovery.

“Compared to November 2019 (pre-COVID), demand is down 2.5 per cent, while capacity is up 4.1 per cent,” IATA said.

It said that the November 2023 global air cargo markets indicated the strongest year-on-year growth in about two years, partly due to weakness in November 2022, but also reflects a fourth consecutive month of strengthening demand for air cargo.

IATA director general Willie Walsh said November air cargo demand, measured in cargo tonne-kilometres, was a doubling of October’s 3.8 per cent increase and a fourth month of positive market development.

“It is shaping up to be an encouraging year-end for air cargo despite the significant economic concerns that were present throughout 2023 and continue on the horizon,” he said.

Asia-Pacific airlines saw their air cargo volumes increase by 13.8 per cent in November 2023 compared to the same month in 2022, and this performance was significantly above the previous month’s growth of 7.6 per cent.

Available capacity for the region’s airlines increased by 29.6 per cent compared to November 2022 as more belly capacity came online with the removal of COVID-19 restrictions.

-- BERNAMA