IATA recently released the global data for the growth in demand for cargo. The Middle East region saw 13.5% Year-on-Year demand growth for air cargo in August. In particular, the Middle East- Europe trade lane performed well, with a surge of 28.9% from the corresponding period in 2023. It was followed by Middle East-Asia route, which grew by 13.5% year-on-year. The August capacity increased 4.0% YoY, with 3.7 per cent increase in the CLF (%-PT) *2 and 44.5 per cent increase in Load Factor Level. “We continue to see very good news in air cargo markets. The sector recorded a second consecutive month of record high demand year-to-date. Even with record levels of capacity, yields are up 11.7% on 2023, 2% on the previous month, and 46% above pre-pandemic levels. This strong performance is underpinned by slow but steady growth in global trade, booming e-commerce, and continuing capacity constraints on maritime shipping”, Willie Walsh, Director General, IATA said.
Comments