The International Air Transport Association (IATA) has announced record figures for the use of global air cargo during 2024.
According to the Canada-based organisation, full-year demand for cargo to December 2024, and measured in cargo tonne-kilometres (CTK), increased by 11.3 per cent, and 12.2 per cent for international operations on the previous year. Overall demand surpassed the record volumes attained in 2021.
Full-year capacity for the year increased 7.4 per cent on the previous year, and 9.6 per cent for international operations. Full-year yields averaged at 1.6 per cent lower than 2023 but were significantly higher than in 2019.
IATA Director General, Willie Walsh, said: ‘Air cargo was the standout performer in 2024 with airlines moving more air cargo than ever before. Importantly, it was a year of profitable growth. Demand, up 11.3 per cent year-on-year, was boosted by particularly strong e-commerce and various ocean shipping restrictions.
‘This, combined with airspace restrictions which limited capacity on some key long-haul routes to Asia, helped to keep yields at exceptionally high levels. While average yields continued to soften from peaks in 2021-2022 they averaged 39 per cent higher than 2019.’
He added that IATA estimates growth of 5.8 per cent for 2025. ‘Economic fundamentals point to another good year for air cargo—with oil prices on a downward trajectory and trade continuing to grow,’ he said. ‘There is no doubt, however, that the air cargo industry will be challenged to adapt to unfolding geopolitical shifts. The first week of the Trump administration demonstrated its strong interest in using tariffs as a policy tool that could bring a double whammy for air cargo—boosting inflation and deflating trade.’
