Air cargo market has been increasing by double digits since December

The cargo turnover of global commercial aviation in February increased by 11.9% year-on-year to 19.7 billion ton-km, the International Air Transport Association (IATA) reported. The demand for air cargo has been growing at a double-digit rate for the third consecutive month: it reached 18.4% in January and 10.8% in December 2023 year-on-year.

In February, the cargo turnover on international routes increased by 12.4% year-on-year; the highest growth rates of transportation volumes were recorded in Africa (by 22%) and the Middle East (by 20.9%), with the lowest in North America (by 4.2%).

In February, the available market capacity was 43.8 billion ton-km, which is 13.4 percent higher than a year ago and 20.6 percent higher than February 2022. The IATA notes that the growth in the available cargo capacity is mainly attributable to the return of a large number of passenger aircraft to service (29.5% up year-on-year). The cargo airline offering on international routes increased by only 3.2% year-on-year.