Total global air cargo demand rose by 6 per cent YoY in May, according to the International Air Transport Association.
The rise was 6.5 per cent YoY for international operations.
Capacity increased by 1.9 per cent YoY in the month; the YoY rise was 2.8 per cent for international operations.
Carriers in the Middle East reported a combined contraction of 8.9 per cent YoY in air cargo demand due to war.
Africa, the Asia-Pacific, Europe and North American regions all reported above trend growth in air cargo demand. Carriers in the Middle East, however, reported a combined contraction of 8.9 per cent YoY as war-related impacts continued.
May’s strong performance coupled with macro-economic factors give cautious optimism for air cargo’s prospects over the remainder of the year, IATA said in a release.
Trade and manufacturing output are both growing. Airlines have adapted operations to align with shifting demand patterns and supply chain needs.
“Meanwhile, yield growth and higher load factors are helping to recoup higher fuel costs. It’s still a tough year, particularly as Middle East uncertainties weigh heavily on parts of the industry, but robust demand and airline resilience are clear,” said IATA director general Willie Walsh.
Asia-Pacific airlines saw an 8-per cent YoY growth in air cargo demand in May; capacity increased by 5.1 per cent YoY. North American carriers saw a 10.5-per cent YoY rise in demand in the month; capacity increased by 2.4 per cent YoY.
European carriers saw a 6.7 per cent YoY increase in demand for air cargo in May. Capacity increased by 2.2 per cent YoY.
Middle Eastern carriers saw an 8.9-per cent YoY decrease in demand for air cargo in May, the weakest performance of all regions; capacity decreased by 9.2 per cent YoY.
African airlines saw a 13.3-per cent YoY increase in demand for air cargo in the month, the strongest performance of all regions; capacity increased by 1.3 per cent YoY.
Air cargo performance diverged across major trade lanes in May. Asia-North America led growth followed by Africa-Asia, intra-Europe and Europe-Asia. In contrast, Gulf-linked corridors were still severely disrupted by the ongoing conflict in the Middle East.
Fibre2Fashion News Desk (DS)
