SaudiArabiaPR.com, Online Press Release from Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina
 
(Travel & Tourism)
Filter PR by
  
Air Cargo Demand Continues Strong Growth into Q2
 

29 May 2024 - 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). 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. 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,' said Willie Walsh, IATA's Director General.
 
Several factors in the operating environment should be noted:

  • In April, the PMIs for global manufacturing output and new export orders turned positive (51.5 and 50.5 respectively). This is the first time in two years that the new export orders PMI has been in growth territory.
  • Industrial production increased by 1.6% in March year-on-year, while global cross-border trade contracted by 0.8%.
  • Inflation remained relatively stable across the US, EU, and Japan in April with rates at 3.4%, 2.6%, and 2.5%, respectively. China reported a 0.2% increase in consumer prices year-on-year—a positive signal amid concerns over China's economic slowdown. 

 April Regional Performance

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. Capacity increased by 7.8% year-on-year. 
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. April capacity increased by 4.0% year-on-year.

European carriers saw 12.7% year-on-year demand growth for air cargo in April. 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. Europe–Middle East routes saw demand increase by 30.1%, experiencing a drop of 8.5ppt compared to the previous month's figure.  April capacity increased 10.3% year-on-year.

Middle Eastern carriers saw 9.4% year-on-year demand growth for air cargo in April. 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. April capacity increased 5.7% year-on-year.

Latin American carriers saw 11.7% year-on-year demand growth for air cargo in April.  Capacity increased 9.8% year-on-year.

African airlines saw 10.6% year-on-year demand growth for air cargo in April. Demand on the Africa–Asia market increased by 25.8% compared to April 2023. April capacity increased by 18.7% year-on-year.  


Posted by : Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina PR Network Editorial Team
Viewed 72608 times
PR Category : Travel & Tourism
Posted on : Wednesday, May 29, 2024  1:42:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of SaudiArabiaPR.com.
Previous Story : IATA SAF Registry
Next Story : Soudah Development & Warner Bros. Discovery International Si...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Slay the sun-kissed girl makeup look: Your Ultimate Guide [33009-Views]
Hysek reveals iconic timepieces at Watches & Wonders 2024 [32256-Views]
Catrice Cosmetics Introduces the Clean Girl Makeup Look with New Essentials! [31959-Views]
Ogilvy Appoints Antonis Kocheilas Global Chief Transformation Officer [23982-Views]
Khabib's Official Training Gloves Will Be Sold at Tooba Charity Auction in Dubai [22760-Views]
Catrice Unveils the Spring/Summer 2024 Collection: Introducing Shine Bomb Lip Lacquer! [21012-Views]
POCO Sets New Standard with Global Launch of F-Series in Dubai [17726-Views]
Ground Handling Priorities: Safety, Global Standards and Sustainability [17536-Views]
Unleash Your Inner Royalty with "Call me Queen" Dramatic False Lash Effect Mascara by esse... [17308-Views]
UAE Ministry of Finance Participated in 2024 IsDB Group Annual Meetings [16594-Views]
Packed crowds flock to Friday's races at the AlUla Camel Cup 2024 [14189-Views]
Geopolitical stability, inclusive growth, energy security under spotlight in Riyadh at World Economi... [13804-Views]
Panasonic Announces FY24 Business Strategy For Sustained Growth in Middle East and Africa [13784-Views]
Mitch Evans Looks For Another Italian Triumph As Formula E Descends On Rimini Debut - Where To Watch... [13141-Views]
WEF Special Meeting concludes in Riyadh with world leaders calling for clear, irreversible path to p... [12810-Views]
How will billions of muslims preform Hajj in the future? [12788-Views]
UAE Ministry of Finance Meets with Government Expenditure and Projects Efficiency Authority of Saudi... [12782-Views]
Oliver rowland wins misano e-prix opener after antonio felix da costa disqualification [12692-Views]
Formula E and FIA to unveil new gen3 evo race car at upcoming monaco E-prix [12591-Views]
WFP News Video: WFP Warns Unprecedented Drought and Floods Causing Surge in Climate Related Hunger [12443-Views]
 
RSS Facebook Twitter LinkedDin SaudiArabiaPR.com on Instagram
 
Top Sections
 
Top Stories