IATA released data for October 2023 global air cargo markets indicating the third consecutive month of stronger year-on-year demand. Willie Walsh, Director General, IATA, said, “Middle Eastern carriers had the strongest performance in October 2023, with a 10.9 per cent year-on-year increase in cargo volumes. This was a significant improvement from the previous month’s performance (+2.5%). Carriers in the region benefited from growth in the Middle East–Asia (+10.3%) and Middle East–Europe markets (+17.1%). Capacity increased 15 per cent compared to October 2022. Global demand, measured in cargo tonne-kilometres (CTKs*), increased by 3.8 per cent compared to October 2022. For international operations, the demand lagged slightly at 3.5 per cent.” While capacity, measured in available cargo tonne-kilometres (ACTKs), was up 13.1per cent compared to October 2022 (11.1% for global operations). This was largely related to the growth in belly capacity. International belly capacity, for example, rose 30.5 per cent year-on-year on the strength of passenger markets, he added.
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