In September 2024, African airlines reported a 1.7% year-on-year growth in air cargo demand, according to data from the International Air Transport Association (IATA). Despite the slower growth compared to other regions, African carriers experienced a substantial 13.9% increase in available cargo capacity for the month, signaling a readiness to meet demand as global trade remains resilient.
Global air cargo markets saw significant gains, with total demand measured in cargo tonne-kilometers (CTKs) rising by 9.4% over September 2023 levels. This marked the 14th consecutive month of growth. Capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 6.4% as international belly capacity expanded. Notably, Latin American airlines led the regions with a remarkable 20.9% growth in cargo demand, while Asia-Pacific and European carriers reported 11.7% growth each.
“September’s strong performance reaffirms the resilience of air cargo markets globally,” said Willie Walsh, IATA’s Director General. He noted that yields are up by 11.7% year-on-year and are now 50% above 2019 levels, indicating robust market conditions that may carry into the year’s final quarter.
Global factors contributing to this steady demand include a 1.6% rise in industrial production, a 2.8% increase in global goods trade, and high demand on international routes, which saw a 10.5% boost year-over-year. However, Purchasing Managers’ Index (PMI) values for global manufacturing and new export orders fell below the 50-point benchmark, showing a modest contraction in manufacturing growth.
