African Airlines record 8.5% growth in air cargo in 2024 – IATA

The International Air Transport Association (IATA) yesterday released data for full year 2024 and December 2024 global air cargo market performance showing full-year demand for 2024, measured in cargo tonne-kilometers (CTK), increasing 11.3% (12.2% for international operations) compared to 2023. Full-year 2024 demand exceeded the record volumes set in 2021. A major highlight of this […]

The International Air Transport Association (IATA) yesterday released data for full year 2024 and December 2024 global air cargo market performance showing full-year demand for 2024, measured in cargo tonne-kilometers (CTK), increasing 11.3% (12.2% for international operations) compared to 2023.

Full-year 2024 demand exceeded the record volumes set in 2021.

A major highlight of this was African Airlines recording 8.5% year-on-year demand growth for air cargo in 2024.

Capacity increased by 13.6% year-on-year. December year-on-year demand decreased by -0.9%, the lowest of all regions and capacity increased 1.8%.

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Globally, full-year capacity in 2024, measured in available cargo tonne-kilometers (ACTK), increased by 7.4% compared to 2023 (9.6% for international operations).

Full-year yields averaged 1.6% lower than 2023 but 39% higher than in 2019.

December 2024 brought the year to a close with continued strong performance. Global demand was 6.1% above December 2023 levels (7.0% for international operations).

Global capacity was 3.7% above December 2023 levels (5.2% for international operations). Cargo yields were 6.6% higher than December 2023 (and 53.4% higher than in December 2019).

IATA’s Director General, Willie Walsh, said, “Air cargo was the standout performer in 2024 with airlines moving more air cargo than ever before.

“Importantly, it was a year of profitable growth. Demand, up 11.3% year-on-year, was boosted by particularly strong e-commerce and various ocean shipping restrictions. This combined with airspace restrictions which limited capacity on some key long-haul routes to Asia helped to keep yields at exceptionally high levels. While average yields continued to soften from peaks in 2021-2022, they averaged 39% higher than 2019.”