JET FUEL: Global Air Cargo Demand Growth Extends into July: IATA

Total air cargo demand, measured in cargo tonne-km, rose by 13.6% compared to July 2023 levels, and 14.3% for international operations, IATA said.

• This is the eighth consecutive month of double-digit year-on-year growth, with overall levels reaching heights not seen since the record peaks of 2021.
• Capacity, measured in available cargo tonne-km, rose 8.3% compared to July 2023, and 10.1% for international operations.
• This was largely related to the growth in international belly capacity, which rose 12.8% on the strength of passenger markets and balancing 6.9% growth in international freighter capacity.
• Belly capacity increase is the lowest in 40 months, whereas freighter capacity is the highest since January.
• “The air cargo business continues to benefit from growth in global trade, booming e-commerce and capacity constraints on maritime shipping. With the peak season still to come, it is shaping to be a very strong year for air cargo. And airlines have proven adept at navigating political and economic uncertainties to flexibly meet emerging demand trends,” said Willie Walsh, IATA’s Director General.