Middle East sees increase in air cargo demand in June 2024: IATA report
Middle Eastern carriers saw 13.8% year-on-year demand growth for air cargo, the data released by the International Air Transport Association (IATA) for June 2024 revealed.
The Middle East–Europe market performed well with 30.2% annual growth, ahead of Middle East–Asia which recorded a growth of 15.1% year-on-year. Meanwhile, the June capacity increased 6.9% year-on-year.
The overall global air cargo markets have recorded strong annual growth in demand. This contributed to an exceptional first half-year performance for air cargo, with volumes exceeding 2023, 2022, and even the record-breaking 2021 levels.
“Air cargo demand surged in June. Strong growth across all regions and major trade lanes combined for a record-breaking first-half performance in terms of CTKs. Maritime shipping constraints and a booming e-commerce sector are among the strongest growth drivers,” said Willie Walsh, IATA’s Director General.
The report stated that total demand, measured in cargo tonne-kilometers (CTKs*), rose by 14.1% compared to June 2023 levels (15.6% for international operations). This is the seventh consecutive month of double-digit year-on-year growth.
The capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 8.8% compared to June 2023 (10.8% for international operations). Total half-year (H1) demand increased by 13.4% compared to H1 2023, by 4.3% compared to H1 2022, and by 0.02% compared to H1 2021.
“Meanwhile, the sector has remained largely impervious to ongoing political and economic challenges, and the US customs crackdown on e-commerce deliveries from China. Air cargo looks to be on solid ground to continue its strong performance into the second half of 2024,” said,” Walsh added.
