IATA: Double-digit growth in cargo demand continues in July

Air cargo demand continued to soar in July with the latest IATA statistics showing a year-on-year increase of 13.6% on the back of issues on the ocean and the continued e-commerce boom. The airline association said that cargo tonne kms had now registered a double-digit percentage increase for eight months in a row, with overall levels reaching heights not see since the Covid-fuelled surge of 2021. Meanwhile, capacity in July increased at the lower level of 8.3% on last year helping to push load factors up by 2.1 percentage points to 44.4%. IATA said the capacity increase was led by a 12.8% improvement in international bellyhold capacity and a 6.9% growth in international freighter capacity. The association’s director general Willie Walsh said: “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 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.”<br/>