Air Freight Demand Soars: IATA Reports 8.2% Year-Over-Year Growth

By Ken Miller, Senior Transport Journalist

The International Air Transport Association (IATA) has announced a remarkable 8.2% increase in global air freight demand for November 2024 compared to the same month in 2023. This growth underscores the essential role that air cargo continues to play in global supply chains.

Notably, the demand growth nearly doubled the increase in freight capacity, which rose by 4.6%. Additionally, fuel costs were 22% lower than the previous year, contributing to enhanced profitability for air freight operators. International traffic also showed strong performance, with a year-over-year increase of 9.5%. Furthermore, the rising demand from e-commerce in the U.S. and Europe has fueled air cargo growth, particularly as ocean shipping capacity remains limited.

Looking ahead, IATA projects that air cargo will achieve profitability by 2024 and expects continued strong performance as we move into 2025.

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