IATA: June Air Cargo Demand Surges 14.1%; Passenger Demand Up 9.1%

The International Air Transport Association (IATA) released data for June 2024 global air cargo markets showing continuing strong annual growth in demand. This contributed to an exceptional first half-year performance for air cargo, with volumes exceeding 2023, 2022, and even the record-breaking 2021 levels.

•    Total demand, measured in cargo tonne-kilometers (CTKs*), rose by 14.1% compared to June 2023 levels (15.6% for international operations). This is the seventh consecutive month of double-digit year-on-year growth. 

•    Capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 8.8% compared to June 2023 (10.8% for international operations). 

•    Total half-year (H1) demand increased by 13.4% compared to H1 2023, by 4.3% compared to H1 2022, and by 0.02% compared to H1 2021.

"Air cargo demand surged in June. Strong growth across all regions and major trade lanes combined for a record-breaking first-half performance in terms of CTKs. Maritime shipping constraints and a booming e-commerce sector are among the strongest growth drivers. Meanwhile, the sector has remained largely impervious to ongoing political and economic challenges, and the US customs crackdown on e-commerce deliveries from China. Air cargo looks to be on solid ground to continue its strong performance into the second half of 2024," said Willie Walsh, IATA’s Director General.

PASSENGER

The International Air Transport Association (IATA) released data for June 2024 global passenger demand with the following highlights:

•    Total demand, measured in revenue passenger kilometers (RPK), was up 9.1% compared to June 2023. Total capacity, measured in available seat kilometers (ASK), was up 8.5% year-on-year. The June load factor was 85.0% (+0.5 percentage points (ppt) compared to June 2023). 

•    International demand rose 12.3% compared to June 2023. Capacity was up 12.7% year-on-year and the load factor improved to 85.0% (-0.3ppt on June 2023). 

•    Domestic demand rose 4.3% compared to June 2023; capacity was up 2.1% year-on-year and the load factor was 85.0% (+1.7ppt compared to June 2023). 

“Demand grew across all regions as the peak Northern summer travel season began in June. And with overall capacity growth lagging demand we saw a very strong average load factor of 85% achieved in both domestic and international operations. Operating with such high load factors is both good and challenging. It makes it even more important for all the stakeholders to operate with equal levels of efficiency to minimize delays and get travelers to their destinations on schedule,” said Willie Walsh, IATA’s Director General.

“As the Olympic Games unfold in Paris there is pride across the aviation industry for its continuing role in supporting the Olympic story by bringing many of the athletes, fans, and officials together. It is a great reminder of how aviation transforms our very big world into a global community. We wish France every success as the host of the games and cheer all the athletes who will demonstrate the best of human endeavor over the next weeks,” said Walsh.