KUALA LUMPUR: The global air cargo market recorded a total of 21.7 billion cargo tonne-kilometres (CTKs) in April, representing an 11.1% year-on-year expansion, marking the fifth consecutive month of double-digit annual growth, according to the International Air Transport Association (IATA).
Based on a statement yesterday, IATA said the global international traffic also rose by 11.6% in the month compared to April 2023, supported by all regions and major trade lanes.
It said the largest contributors to this strong traffic performance were carriers from Asia Pacific and Europe, which together contributed two-thirds to the annual increase.
“This contrasts with the preceding seven months, where the bulk of the annual rise had stemmed from airlines registered in Asia Pacific and the Middle East, even though the latter is one of the smaller regions by traffic volume (ranked fourth out of six regions),” it said.
The association said that the solid upward trend in industry CTKs was driven by traffic on international routes, likely supported by booming e-commerce and capacity constraints in global maritime shipping.
IATA Director-General Willie Walsh said that while many economic uncertainties remained, it appeared that the roots of air cargo’s strong performance were 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,” he added.
— BERNAMA
