The International Air Transport Association releases the latest freight data

The International Air Transport Association (IATA) showed strong growth in demand for air cargo for three consecutive months based on regular data from the global air cargo market in October 2023.The global demand for air cargo, calculated based on cargo tonnage kilometers (CTKs *), increased by 3.8% year-on-year in October 2022. The growth rate of international demand is slightly lower than the global average, at 3.5%.The transportation capacity (available cargo tonnage kilometers, ACTKs) increased by 13.1% year-on-year in October 2022 (international transportation capacity increased by 11.1%), mainly due to the increase in belly cabin capacity of passenger aircraft. The recovery of the passenger transportation market has boosted international belly cabin capacity by 30.5% year-on-year.Willie Walsh, Chairman of the International Aviation Association, stated: In October, the demand for air cargo increased by 3.8%. The demand for air cargo has achieved year-on-year growth for three consecutive months, and the performance of air cargo at the end of 2023 is more stable than at the beginning of the year. The recovery of demand, slightly higher returns, and trade growth are all good news, but demand is still 2.4% lower than pre pandemic levels. In addition, there are still many uncertainties in the global economic outlook, which need to be treated with caution and optimism. In any case, the sustained strong performance in the year-end peak season will undoubtedly help airlines The air industry should respond to any potential changes in the global economy in 2024international air transportThe air cargo volume of Asia Pacific Airlines in October increased by 7.6% year-on-year compared to the same period in 2022. The growth rate is almost the same as last month (an increase of 7.7%). Airlines in the region have benefited from the sustained growth of international freight volume through three major trade channels: Africa Asia (growth of 16.7%, the largest annual growth since May), Middle East Asia (growth of 10.3%), and Europe Asia (growth of 8.5%). Compared to October 2022, the available capacity of airlines in the region increased by 30.0%, thanks to the recovery of passenger transportation business and the increase of more belly cabin capacity.North American airlines had the weakest performance in October, with a year-on-year decrease of 1.8% in cargo volume. There was a slight improvement compared to September (a decrease of 2.2%). Although the international freight volume of the North America Asia trade channel has increased (from September 1.8% to October 0.9%), and the international freight volume of the North America Europe market has slightly improved (from September 2.7% to October 2.1%), airlines in the region have not benefited significantly. Compared to October 2022, the transportation capacity increased by 2.4%.The cargo volume of European airlines in October increased by 1.0% year-on-year compared to the same period in 2022. The performance improved compared to September (down 1.5%). The operators in the region benefited from the first increase in international freight volume in the European inland market since January 2022 (a 3.4% increase in October). The expansion of the Middle East Europe trade channel has also benefited airlines in the region, with a growth of 17.1% in October. The transportation capacity increased by 7.0% year-on-year.Middle Eastern airlines performed the strongest in October, with a year-on-year increase of 10.9% in cargo volume. The month on month performance (up 2.5%) has significantly improved. The operators in the region benefited from the growth of the Middle East Asia market (10.3% growth) and the Middle East Europe market (17.1% growth). The transportation capacity increased by 15% year-on-year in October 2022.Latin American Airlines saw a 4.0% year-on-year increase in cargo volume in October 2022, which was better than the previous month (an increase of 2.3%). The transportation capacity increased by 8.3% year-on-year.African airlines saw a 2.9% increase in cargo volume in October, a significant improvement compared to September (down 0.1%). The airlines in the region benefited from their strongest annual growth since May, with a growth rate of 16.7%. The transportation capacity increased by 9.8% year-on-year.

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