The International Air Transport Association (IATA) released data on July 30, 2024, regarding global air cargo traffic for June 2024, highlighting a 14.1% increase compared to the same month in 2023. This marks the seventh consecutive month of double-digit year-over-year growth. Transport capacity, measured in available ton-kilometers, rose by 8.8% compared to June 2023.
"The surge in air cargo demand in June was evident," said Willie Walsh, General Director of IATA. "Strong growth across all regions and major trade routes led to a record performance in the first half in terms of ton-kilometers. Maritime transport restrictions and expanding e-commerce are among the main growth drivers. The sector has shown remarkable resilience in the face of ongoing political and economic challenges, as well as U.S. customs controls on e-commerce deliveries from China."
The overall economic environment showed mixed signals in June. The global manufacturing Purchasing Managers' Index (PMI) indicated growth with a value of 52.3, while new export orders fell slightly below the 50-point threshold, at 49.3. Global cross-border trade increased by 0.1% on a monthly basis in May, while industrial production remained stable.
Inflation presented a varied picture: rates in the EU and Japan remained steady at 2.6% and 2.8%, respectively, while in the United States it fell to 3.0%. In contrast, inflation in China remained close to zero (0.3%) due to weak domestic demand, high unemployment, slow income growth, and the real estate crisis.
Regionally, airlines in the Asia-Pacific saw a 17% increase in demand compared to the previous year, the highest among all regions. Notably, demand on the Africa-Asia route increased by 37.5%, while Europe-Asia and Middle East-Asia routes recorded increases of 20.3% and 15.1%, respectively.
European airlines experienced a 16.1% growth in demand, with a 16.7% increase for intra-European traffic. Europe-Middle East routes saw a 30.2% growth, while Europe-Asia routes increased by 20.3%.
North American carriers recorded the weakest demand growth, with a 9.5% increase compared to the previous year. Capacity increased by 6.0%, with a significant rise in demand on the Asia-North America routes (+12.8%).
Middle Eastern carriers reported a 13.8% growth in demand, with a 30.2% increase on Middle East-Europe routes and a 15.1% rise on Middle East-Asia routes. Latin American airlines saw a 13.1% increase in demand, with capacity up by 15.5%, while African airlines reported an 11.8% increase in demand, with a 37.5% growth on the Africa-Asia route.
