Capacity, measured in available cargo tonne-kilometres (ACTKs), also saw a notable rise, increasing by 8.3 per cent year-on-year, with international operations up by 10.1 per cent. This growth was primarily driven by a 12.8 per cent increase in international belly capacity, which benefitted from strong passenger markets, and a 6.9 per cent growth in international freighter capacity. Notably, the rise in belly capacity is the lowest in 40 months, while freighter capacity growth reached its highest since a significant jump in January 2024.

Willie Walsh, IATA’s director general, commented on the results, stating, "Air cargo demand hit record highs year-to-date in July with strong growth across all regions. The air cargo business continues to benefit from growth in global trade, booming e-commerce, and capacity constraints on maritime shipping. With the peak season still to come, it is shaping up to be a very strong year for air cargo. And airlines have proven adept at navigating political and economic uncertainties to flexibly meet emerging demand trends.”

July's operating environment presented a mixed picture. The Purchasing Managers Index (PMI) for global manufacturing output indicated expansion at 50.2, while the global new export orders PMI remained below the contraction threshold at 49.4. Industrial production remained flat month-on-month, and global cross-border trade increased by 0.7 per cent. Inflation rates in major economies, including the US, Japan, and the EU, remained stable around 2.8 to 2.9 per cent, while China saw a slight rise to 0.6 per cent, the highest level in five months, IATA said in a press release.

Airlines in the Asia-Pacific region led the charge with a 17.6 per cent year-on-year demand growth, the strongest across all regions. Demand on the Within-Asia trade lane grew by 19.8 per cent, while Europe-Asia, Middle East-Asia, and Asia-Africa trade lanes recorded growths of 17.9 per cent, 15.9 per cent, and 15.4 per cent, respectively. Capacity in the region increased by 11.3 per cent. North American carriers experienced an 8.7 per cent year-on-year growth in demand, despite disruptions caused by Hurricane Beryl. The Asia-North America trade lane, the largest by volume, grew by 10.8 per cent, while North America-Europe saw a modest increase of 5.3 per cent. Capacity rose by 7.0 per cent.

European carriers saw a 13.7 per cent increase in demand. The Middle East-Europe trade lane was the standout performer, with a 32.2 per cent rise, continuing a streak of double-digit growth since September 2023. The Europe-Asia route grew by 17.9 per cent, and Within Europe saw a 15.5 per cent increase. Capacity grew by 7.6 per cent. Middle Eastern carriers reported a 14.7 per cent increase in demand, with the Middle East-Europe trade lane surging 32.2 per cent, outperforming the 15.9 per cent growth on the Middle East-Asia route. Capacity increased by 4.4 per cent.

Latin American carriers recorded an 11.1 per cent increase in demand. However, growth was partly hindered by flight cancellations and airport closures due to Hurricane Beryl. Capacity rose by 9.4 per cent. African airlines saw the lowest growth, with a 6.2 per cent increase in demand, their lowest figure for 2024. The Africa-Asia market did better, with a 15.4 per cent rise. Capacity increased by 10.5 per cent.

Fibre2Fashion News Desk (KD)