Year-on-year air cargo demand grew for the first time in 19 months in August, latest figures from aviation group the International Air Transport Association (IATA) show.
Global demand increased by 1.5% compared to August 2022 levels, IATA said.
Capacity was up 12.2% compared to August 2022. This was largely related to belly capacity which rose 30% year-on-year as airlines ramped-up operations to meet peak-northern summer travel.
“Air cargo demand grew by 1.5% over the previous August. This is the first year-on-year growth in 19 months, so it is certainly welcome news. But it is off a low 2022 base and market signals are mixed. Looking ahead, while many uncertainties remain, we can take some optimism from PMI data moving towards positive territory. This is particularly significant as we head into air cargo’s traditional peak year-end season,” said Willie Walsh, IATA’s Director General.
