African airlines experienced a 0.7% year-on-year decline in cargo demand in November 2024, marking the weakest performance among global regions, according to the latest report from the International Air Transport Association (IATA). Despite this dip, capacity for African carriers increased slightly by 0.4% year-on-year.
Globally, total demand, measured in cargo tonne-kilometers (CTK), rose by 8.2% in November compared to November 2023, with international operations contributing a 9.5% increase.
This marked the 16th consecutive month of growth. Capacity, measured in available cargo tonne-kilometers (ACTK), increased by 4.6% year-on-year (6.5% for international operations).
“It was a good November for air cargo with 8.2% demand growth, nearly doubling the 4.6% growth in cargo capacity,” said Willie Walsh, IATA’s Director General.
“Lower fuel costs—22% below the previous year—and tight market conditions supported a yield growth of 7.8%.
We expect to close 2024 on a profitable note, with the strong performance likely to continue into 2025. However, risks such as inflation, geopolitical uncertainties, and trade tensions need close monitoring.”
Regional Performance Highlights
- Asia-Pacific: Recorded the highest growth at 13.2% year-on-year, with capacity up by 9.4%.
- Latin America: Achieved 11.6% growth in demand, with a 6.4% increase in capacity.
- North America: Posted 6.9% demand growth and a 2.2% increase in capacity.
- Europe: Reported a 5.6% increase in demand and 4.3% in capacity.
- Middle East: Experienced 3.6% demand growth, while capacity decreased marginally by 0.6%.
International trade lanes continued to perform robustly for the 16th consecutive month, with a 9.5% year-on-year demand increase in November. Key highlights include:
- Africa-Asia: Recorded 7.6% year-on-year growth, marking 15 consecutive months of growth.
- Asia-North America: Achieved 13% year-on-year growth, sustaining 13 consecutive months of expansion.
- Europe-Asia: Reported 13% growth, extending its streak to 21 consecutive months.
- Intra-Asia: Saw growth exceeding 12%, with 13 consecutive months of increases.
Boost from E-Commerce
E-commerce demand in the U.S. and Europe continued to rise, contributing to strong international cargo traffic. Airlines also benefited from constrained capacity in ocean shipping, further driving demand for air freight solutions.
While African airlines have faced challenges, the broader global air cargo sector remains on track for a profitable year-end, buoyed by robust regional performances and growing trade lanes.
