African airlines saw 1.6% increase for air cargo in October

Total demand, measured in cargo tonne-kilometers (CTKs), rose by 9.8% compared to October 2023 levels (10.3% for international operations) for a 15th consecutive month of growth.

Capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 5.9% compared to October 2023 (7.2% for international operations). This was largely driven by an 8.5% increase in international belly capacity. Dedicated freighter capacity increased by 5.6%, the seventh consecutive month of growth with volumes nearing 2021 peak levels.

African airlines saw 1.6% year-on-year demand growth for air cargo in October, the slowest among regions. Capacity increased by 7.7% year-on-year. 

“Air cargo markets continued their strong performance in October, with demand rising 9.8% year-on-year and capacity up 5.9%. Global air cargo yields (including surcharges) continue to rise, up 10.6% on 2023 and 49% on 2019 levels. While 2024 is shaping up to be a banner year for air cargo, we must look to 2025 with some caution. The incoming Trump Administration’s announced intention to impose significant tariffs on its top trading partners—Canada, China and Mexico—has the potential to upend global supply chains and undermine consumer confidence. The air cargo industry’s proven adaptability to rapidly evolving geopolitical and economic situations is likely to be tested as the Trump agenda unfolds," said Willie Walsh, IATA’s director general.

Other October Regional Performance

Middle Eastern carriers saw 4.5% year-on-year demand growth for air cargo in October. Capacity increased 0.8% year-on-year.

European carriers saw 7.6% year-on-year demand growth for air cargo in October. Capacity increased 3.9% year-on-year.

Asia-Pacific airlines saw 13.4% year-on-year demand growth for air cargo in October. Capacity increased by 9.3% year-on-year.

North American carriers saw 9.5% year-on-year demand growth for air cargo in October. Capacity increased by 5.8% year-on-year.

Latin American carriers saw 18.5% year-on-year demand growth for air cargo in October, the strongest growth among the regions. Capacity increased 5.8% year-on-year.