The latest report from IATA shows that air traffic demand continued to rise in May. Market strength was reported to be concentrated in the Middle East and Asia-Pacific in terms of region of airline domicile and region-to-region international flows. They were the largest contributors to this strong annual rise in May According to IATA data, Europe to/from Far East and Middle East-centric traffic markets are leading the traffic recovery. Airlines registered in Africa and Asia Pacific led with the highest annual growth rates in international cargo tonne kilometres (CTK), which measures a metric tonne of freight carried one kilometre, with 18.2 per cent and 18.1 per cent, respectively, the report stated. For African carriers, the figure increased by 7.2 percentage points (ppts) compared in April, the highest increase among all carriers. May, the report stated, brought the sixth consecutive month of demand growing by double digits. The increase in demand YoY was 14.7 per cent in May and over 5.34 per cent in the same month, which marked the sixth consecutive month of double digit annual growth. Air cargo traffic, capacity and revenues continued to recover in late 2023. Carriers from Asia-Pacific and Europe contributed roughly two thirds to the increase. . Collectively, all major international air trade lanes are improving, but the intra-Far East, trans-Atlantic and trans-Pacific markets were reportedly recovering more slowly at the beginning of the year.
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