IATA has reported global air cargo demand increased by 9.8% compared to the previous year, marking the 15th consecutive month of growth. Middle Eastern carriers witnessed 4.5% YoY increase in air cargo demand, highlighting the region’s steady contribution to global air freight growth. Willie Walsh, IATA’s Director General, said, “Air cargo markets continued their strong performance in October, with demand rising 9.8% year-on-year and capacity up 5.9%. Global air cargo yields (including surcharges) continue to rise, up 10.6% on 2023 and 49% on 2019 levels. While 2024 is shaping up to be a banner year for air cargo, we must look to 2025 with some caution. The incoming Trump Administration’s announced intention to impose significant tariffs on its top trading partners—Canada, China and Mexico—has the potential to upend global supply chains and undermine consumer confidence. The air cargo industry’s proven adaptability to rapidly evolving geopolitical and economic situations is likely to be tested as the Trump agenda unfolds.”
Comments