This upward trajectory was particularly notable in international operations, which recorded a 12.4 per cent increase in demand. Capacity also saw a substantial rise, with available cargo tonne-kilometres (ACTKs) escalating by 13.4 per cent compared to the previous year. The surge in international belly capacity, linked to the expansion of passenger markets, played a pivotal role in this growth.

IATA's director general, Willie Walsh, highlighted the sector's robust performance, stating, "February’s demand growth of 11.9 per cent significantly outpaced the 0.9 per cent expansion in cross-border trade, indicating a strong start for 2024 that might surpass the high levels seen in early 2022."

Key developments from the February 2024 report include a 0.9 per cent growth in global cross-border trade in January and various inflation trends across the EU, Japan, the US, and China, indicating diverse economic dynamics, according to IATA.

Regionally, the Asia-Pacific airlines reported an 11.9 per cent increase in demand, despite a slowdown from January's growth. North American carriers experienced the slowest growth at 4.2 per cent, reflecting varied performance across trade lanes. European carriers witnessed a 14.6 per cent rise in demand, with significant strength in intra-European and Europe – Middle East routes.

Middle Eastern airlines led the charge with a 20.9 per cent uptick in demand, especially strong between the Middle East and Europe. Both Latin America and Africa showed robust growth, with African airlines leading in demand increase, particularly in the intra-Africa trade lane.

Fibre2Fashion News Desk (KD)