The Strategist

IATA: Global air cargo transportation in August grows for the first time in 19 months

10/04/2023 - 08:59

The International Aviation Transport Association (IATA) reports that global demand for aviation freight transportation climbed in August for the first time since February 2022.

When compared to August of last year, the indicator in tonne-kilometers climbed by 1.5%.

"The first year-over-year growth in 19 months is unquestionably welcome news," said IATA Director General Willie Walsh. "However, the comparison is made using a shaky 2022 base, and market signals are conflicting."

Particularly, the research states that worldwide cross-border commerce declined for the fourth consecutive month in July, down 3.2% year over year, reflecting weaker demand and an overall worsening of macroeconomic conditions.

When compared to the same month last year, cargo traffic on airlines in the Asia-Pacific region increased by 4.9%, that in Latin America by 6.2%, and that in the Middle East by 1.4%. In the meantime, carriers in North America cut traffic by 1.2%, those in Europe by 0.2%, and those in Africa by 4.7%.