KUALA LUMPUR (Jan 9): Global air cargo markets saw robust growth in demand in November 2024, with cargo tonne-kilometres surging by 8.2% compared to a year earlier, according to the International Air Transport Association (IATA).

This marked the 16th consecutive month of growth, it said in a statement on Thursday.

Capacity, measured in available cargo tonne-kilometres, increased by 4.6% from November 2023.

IATA director general Willie Walsh said that all things considered, air cargo performance is expected to close out 2024 on a profitable note. 

“While this strong performance is very likely to extend into 2025, there are some downside risks that must be carefully watched. These include inflation, geopolitical uncertainties and trade tensions,” he cautioned.

Meanwhile, total global passenger demand, measured in revenue passenger kilometres, was up 8.1% in November 2024 compared to the same month in 2023, said IATA.

Total capacity, measured in available seat kilometres, increased 5.7% year-on-year (y-o-y), while the November load factor was 83.4%, up 1.9 percentage points (ppt) from a year earlier, it said.

IATA said international demand rose 11.6% compared to November 2023. Capacity was up 8.6 % y-o-y, and the load factor rose 2.3 ppt to 83.4% compared to the same period in 2023.

Meanwhile, domestic demand grew 3.1% y-o-y. Capacity was up 1.5% y-o-y, and the load factor was 1.2 ppt higher at 83.5% compared to November 2023, IATA said.

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