African airlines recorded a 0.7% year-on-year (y-o-y) decrease in cargo demand in November 2024, making it the weakest-performing region globally in this category, according to the International Air Transport Association (Iata).
Meanwhile, capacity in the region saw a marginal rise of 0.4% compared to the same month in 2023.
Globally, total cargo demand, measured in cargo tonne-kilometres (CTK), grew by 8.2% in November compared to the same period in 2023, making it the 16th consecutive month of growth.
International operations drove this growth further, with a 9.5% increase.
Cargo capacity, measured in available cargo tonne-kilometres (ACTK), expanded by 4.6% y-o-y, with international operations contributing a 6.5% increase.
Iata's director general, Willie Walsh, noted that November had been a positive month for air cargo, with demand growth nearly doubling the expansion in cargo capacity.
He attributed this performance to lower fuel costs, which were 22% below levels recorded in the previous year, and tight market conditions, which supported a 7.8% increase in yields.
Walsh further indicated that the air cargo sector was on track to show strong profits for 2024 in the final analysis. However, he cautioned that potential risks, such as inflation, geopolitical uncertainties and trade tensions could pose challenges to the continued growth expected in 2025.
The Asia-Pacific region led the global cargo demand growth, achieving a 13.2% y-o-y increase in November, with capacity rising by 9.4%. Latin American airlines followed closely, reporting an 11.6% increase in demand alongside a 6.4% rise in capacity.
North American carriers recorded 6.9% y-o-y growth in demand, with capacity up by 2.2%. In Europe, demand rose by 5.6%, while capacity grew by 4.3%. Middle Eastern carriers saw demand rise by 3.6% y-o-y, although capacity declined slightly by 0.6%.
International routes continued their robust performance, with traffic increasing by 9.5% y-o-y in November, maintaining 16 consecutive months of growth. This trend was attributed to rising e-commerce demand in the United States and Europe, coupled with ongoing capacity constraints in ocean shipping.
Specific trade lanes also demonstrated strong growth. The Africa-Asia route reported a 7.6% y-o-y increase, extending its growth streak to 15 months. The Asia-North America route achieved a 13% y-o-y rise, marking 13 months of consecutive growth, while the Europe-Asia route mirrored this 13% growth over 21 months. Additionally, intra-Asia traffic grew by over 12%, continuing a 13-month expansion trend.
