According to the Zhitong Finance APP, the International Air Transport Association (IATA) recently released the air cargo market data for November 2024. The data shows that global air cargo total demand, measured in cargo ton-kilometers (CTKs*), increased by 8.2% year-on-year compared to November 2023 (with international demand growing by 9.5%), marking 16 consecutive months of growth. Air cargo capacity (available cargo ton-kilometers, ACTKs) increased by 4.6% year-on-year compared to November 2023 (with international demand growing by 6.5%).
Mr. Willie Walsh, Chairman of IATA, stated: &#34;November's air cargo performance was outstanding, with demand increasing by 8.2% year-on-year, nearly double the capacity growth (4.6%). Fuel costs decreased by 22% year-on-year, and market tightness drove yields up by 7.8%. A combination of factors has led to overall profitability in air cargo for 2024. While strong performance is expected to continue into 2025, there are still some downside risks, including inflation, geopolitical uncertainty, and escalating trade frictions.&#34;
Key Indicators of the Air Cargo Operating Environment:
Industrial production in October increased by 2.1% year-on-year. Global merchandise trade grew by 1.6%, marking seven consecutive months of growth.
In November, the Purchasing Managers' Index (PMI) for global manufacturing output was above 50, indicating growth in the manufacturing sector. However, the PMI for new export orders remained below 50, reflecting ongoing uncertainty and weakness in global trade.
In November, the overall inflation rate in the United States, based on the annual Consumer Price Index (CPI), rose by 0.1 percentage points to 2.7%. During the same period, the inflation rate in the European Union increased by 0.2 percentage points to 2.5%. China's consumer inflation rate in November fell to 0.2%.
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Performance of Cargo Markets by Region
Asia-Pacific Airlines saw air cargo demand increase by 13.2% year-on-year in November, the fastest growth among all regions. Capacity increased by 9.4% year-on-year.
European Airlines experienced a year-on-year increase in air cargo demand of 5.6% in November. Capacity grew by 4.3% year-on-year.
Middle Eastern Airlines reported a year-on-year increase in air cargo demand of 3.6% in November. Capacity decreased by 0.6% year-on-year.
North American Airlines saw air cargo demand increase by 6.9% year-on-year in November. Capacity grew by 2.2% year-on-year.
Latin American Airlines experienced a year-on-year increase in air cargo demand of 11.6% in November. Capacity increased by 6.4% year-on-year.
African Airlines reported a year-on-year decrease in air cargo demand of 0.7% in November, the slowest growth among all regions. Capacity increased by 0.4% year-on-year
Growth of Trade Routes: International routes have seen significant growth for 16 consecutive months, with a year-on-year increase of 9.5% in November. Amid ongoing constraints in maritime shipping capacity, airlines are benefiting from the growing e-commerce demand in the United States and Europe.
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The International Air Transport Association (IATA) announced that the data for the air cargo market in November 2024 shows that global air cargo demand increased by 8.2% year-on-year, while capacity grew by 4.6%. IATA Chairman Willie Walsh pointed out that despite facing downside risks such as inflation and geopolitical uncertainties, air cargo performance remains strong, and profitability is expected to continue until 2025. The Asia-Pacific region saw the fastest demand growth, reaching 13.2%

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Changjiu Logistics

IATA: The performance of air cargo in November 2024 is outstanding, with demand increasing by 8.2% year-on-year