The International Air Transport Association (IATA) released data for April 2024 global air cargo markets, showing strong annual growth in demand into the second quarter (Q2). 

Total demand — measured in cargo tonne-kilometers (CTKs) — rose by 11.1% compared to April 2023 levels (11.6% for international operations).

IATA said this is the fifth consecutive month of double-digit year-on-year growth. 

Capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 7.1% compared to April 2023 (10.2% for international operations). 

"Air cargo demand started Q2 with a solid 11.1% increase. While many economic uncertainties remain, it appears that the roots of air cargo's strong performance are deepening," said Willie Walsh, director general at IATA.

"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," he added.

 [Source: IATA]

April Regional Performance

IATA said Asia-Pacific airlines saw 14.0% year-on-year demand growth for air cargo in April, the strongest of all regions.

Demand within the Asia market grew by 13.2% compared to April 2023, and the Asia-Europe route grew by 17.7%.

The Middle East-Asia route rose by 10.4%, 9.5 percentage points (ppt) less than the growth recorded in March.

North American carriers saw 7.0% year-on-year demand growth for air cargo in April, the weakest among all regions. Demand on the Asia-North America trade lane grew by 7.3% year-on-year, while the North America-Europe route saw an increase of 5.6%, marking the largest demand growth for this route since September 2022. 

European carriers saw 12.7% year-on-year demand growth for air cargo in April.

IATA said intra-European air cargo rose by 34.4% compared to April 2023, reflecting the highest annual growth in over a decade and a jump of 8.1ppt compared to the month before.

Demand for Europe-Middle East routes increased by 30.1%, but the previous month's figure dropped by 8.5ppt.

Meanwhile, Middle Eastern carriers saw 9.4% year-on-year demand growth for air cargo in April. IATA noted that the Middle East-Europe market performed "particularly well" with 30.1% annual growth, ahead of Middle East-Asia, which grew by 10.4% year-on-year. 

Latin American carriers saw 11.7% year-on-year demand growth for air cargo in April.

IATA said African airlines saw 10.6% year-on-year demand growth for air cargo in April. It noted that demand in the Africa-Asia market increased by 25.8% compared to April 2023.