Middle Eastern cargo carriers saw 19.9% year-on-year demand growth in March

Total demand, measured in cargo tonne-kilometers (CTKs), rose by 10.3% compared to March 2023 levels (11.4% for international operations). This is the fourth consecutive month of double-digit year-on-year growth.

Middle Eastern carriers saw 19.9% year-on-year demand growth for air cargo in March – the strongest of all regions. The Middle East–Europe market was the strongest performing with 38.3% growth, ahead of Middle East-Asia which grew by 19.6% year-on-year. March capacity increased 10.6% year-on-year.

"Air cargo demand grew by 10.3% over the previous March. This contributed to a strong first quarter performance which slightly exceeded even the exceptionally strong 2021 first quarter performance during the COVID crisis. With global cross-border trade and industrial production continuing to show a moderate upward trend, 2024 is shaping up to be a solid year for air cargo," said Willie Walsh, IATA’s director general.

March Regional Performance

Asia-Pacific airlines saw 14.3% year-on-year demand growth for air cargo in March. Demand on the Asia-Europe route grew by 2.7 ppt to 17.0% and the within Asia market grew by 6.7 ppt to 11.8%. Capacity increased by 14.3% year-on-year.

North American carriers saw 0.9% year-on-year demand growth for air cargo in March —the weakest among all regions. Demand on the North America–Europe trade lane grew by 2.9% year-on-year while Asia–North America grew by 4.7% year-on-year.  March capacity decreased by -1.9% year-on-year.

European carriers saw 10.0% year-on-year demand growth for air cargo in March. Intra-European air cargo rose by 24.7% year-on-year. Europe–Middle East routes saw demand grow by 38.3% year-on-year, while Europe–North America expanded by 2.9% year-on-year.  March capacity increased 8.0% year-on-year.

Latin American carriers saw 9.2% year-on-year demand growth for air cargo in March. Capacity increased 7.0% year-on-year.

African airlines saw 14.2% year-on-year demand growth for air cargo in March. Demand on Africa–Asia market increased to 22.9%, however this was a 19.8 ppt decrease compared to February’s performance and the largest contraction across the major route areas. March capacity increased by 17.3% year-on-year.