Dubai PR Network, Online Press Release from Dubai and Middle East
 
Travel, Tourism, Airline and Hotel
Filter PR by
  

30 April 2024 (Geneva) – The International Air Transport Association (IATA) released data for March 2024 global air cargo markets showing continuing strong annual growth in demand.

  • Total demand, measured in cargo tonne-kilometers (CTKs*), rose by 10.3% compared to March 2023 levels (11.4% for international operations). This is the fourth consecutive month of double-digit year-on-year growth.
  • Capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 7.3% compared to March 2023 (10.5% for international operations).

'Air cargo demand grew by 10.3% over the previous March. This contributed to a strong first quarter performance which slightly exceeded even the exceptionally strong 2021 first quarter performance during the COVID crisis. With global cross-border trade and industrial production continuing to show a moderate upward trend, 2024 is shaping up to be a solid year for air cargo,' said Willie Walsh, IATA’s Director General.

Several factors in the operating environment should be noted:

Global cross-border trade and industrial production increased by 1.2% and 1.6% respectively in February.

In March, the manufacturing output Purchasing Managers’ Index (PMI) climbed to 51.9, indicating expansion. The new export orders PMI also rose to 49.5, remaining slightly below the 50 threshold that would indicate growth expectations.

Inflation saw a mixed picture in March. In the EU and Japan, inflation rates fell to 2.6% and 2.7% respectively, while rising in the US to 3.5%. In contrast, China experienced a slight deflation of -0.01%. This latest figure marks a return to deflation after February's brief period of inflation.

March Regional Performance

Asia-Pacific airlines saw 14.3% year-on-year demand growth for air cargo in March. Demand on the Asia-Europe route grew by 2.7 ppt to 17.0% and the within Asia market grew by 6.7 ppt to 11.8%. Capacity increased by 14.3% year-on-year.

North American carriers saw 0.9% year-on-year demand growth for air cargo in March —the weakest among all regions. Demand on the North America–Europe trade lane grew by 2.9% year-on-year while Asia–North America grew by 4.7% year-on-year.  March capacity decreased by -1.9% year-on-year.

European carriers saw 10.0% year-on-year demand growth for air cargo in March. Intra-European air cargo rose by 24.7% year-on-year. Europe–Middle East routes saw demand grow by 38.3% year-on-year, while Europe–North America expanded by 2.9% year-on-year.  March capacity increased 8.0% year-on-year.

Middle Eastern carriers saw 19.9% year-on-year demand growth for air cargo in March – the strongest of all regions. The Middle East–Europe market was the strongest performing with 38.3% growth, ahead of Middle East-Asia which grew by 19.6% year-on-year. March capacity increased 10.6% year-on-year.

Latin American carriers saw 9.2% year-on-year demand growth for air cargo in March.  Capacity increased 7.0% year-on-year.

African airlines saw 14.2% year-on-year demand growth for air cargo in March. Demand on Africa–Asia market increased to 22.9%, however this was a 19.8 ppt decrease compared to February’s performance and the largest contraction across the major route areas. March capacity increased by 17.3% year-on-year.  


Posted by : DubaiPRNetwork.com Editorial Team
Viewed 12419 times
PR Category : Travel, Tourism, Airline and Hotel
Posted on : Sunday, October 27, 2024  12:00:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Emirates makes a statement on World Pilots' Day
Next Story : Qatar Airways to Participate in ATM Dubai 2024 with the Worl...
Email this article Print this article

Share this article with your friends and followers
NewsVine
 
 
Most Viewed Press Release posted in the last 7 days
CASIO celebrates 50-year-long watchmaking heritage with exclusive anniversary collection [21800-Views]
Drive home happiness this winter at Arabian Center. Win Jetour X70 Plus or X50 Premium car... [15084-Views]
SHOOTING ON WFP CONVOY IN GAZA [14727-Views]
Top International and Regional Riders to Return to Abu Dhabi for 12th FBMA International S... [14727-Views]
ADNEC Group Announces Collaboration with Tawazun Council as Strategic Partner for IDEX and... [12730-Views]
Emirates College for Advanced Education enhances efforts to empower educators to shape the... [12599-Views]
Etihad opens dedicated u.s. preclearance lounge at zayed international airport [12591-Views]
Abu Dhabi Stem Cells Center Achieves UAE's First Testicular Cryopreservation for Young Pat... [12181-Views]
Abu Dhabi Stem Cells Center Performs Testicular Cryopreservation for 4 Young Boys Prior to... [11119-Views]
E& Motb: Dubai's Ultimate Outdoor Experience Is Back, Bigger, And Bolder Than Ever For Its... [8561-Views]
Maserati celebrates 110 years of Italian Luxury all over the world [8466-Views]
Space42's Thuraya 4 Satellite Successfully Launched Into Orbit [8397-Views]
Emirates to introduce additional flights to and from Colombo [7277-Views]
His Excellency Sheikh Nahayan bin Mabarak Al Nahyan honors winner of Longines Grand Prix t... [7253-Views]
Aramex slashes customs processing time by half through revolutionary partnership with Duba... [6921-Views]
e& sets new Guinness World Record for flying the largest banner in a skydiving freefall [6486-Views]
International Defence Conference 2025 to Kick Off on 16 February Alongside IDEX and NAVDEX [5957-Views]
du announces Diamond Sponsorship of GDRFA's New Year initiative [5883-Views]
To empower parents to foster positive family environment FDF implements programs and serv... [5728-Views]
Under the patronage of the UAE President, Abu Dhabi Sustainability Week 2025 (ADSW 2025) t... [5654-Views]
DIRTOPIA, the ultimate dirt challenge for mountain bikers and trail runners lands in Dubai [5498-Views]
Dubai Art Season 2025 Returns With Exciting Creative Experiences [5490-Views]
Hamdan Bin Rashid Al Maktoum Foundation Announces Innovators 2024 Competition Results [5363-Views]
DAE Announces Full Year 2024 Business and Operational Highlights DAE Capital acquired 83 a... [5297-Views]
Must-Watch Movies to Kickstart the New Year on Asianet ME [5055-Views]
 
RSS Facebook Twitter LinkedDin DubaiPRNetwork.com on Instagram
 
Back to Section Home

Related Stories

 
Top Sections
 
Top Stories