PRESS ROOM

U-Freight, as a provider of expedited air freight forwarding and logistics services around the world, notes that the latest figures released by IATA show air cargo demand remained robust in April, marking the fifth consecutive month of double-digit year-on-year growth, although growth slowed month on month.

IATA data for April showed that total demand, measured in cargo tonne-kilometers (CTKs), rose by 11.1 per cent compared to April 2023 levels.

The trade association said robust international air cargo traffic was "likely supported by booming e-commerce and capacity constraints in global maritime shipping".

"Air cargo demand started Q2 with a solid 11.1 per cent increase. While many economic uncertainties remain, it appears that the roots of air cargo's strong performance are deepening.

"In recent months, air cargo demand grew even when the Purchasing Managers Index (PMI) was indicating the potential for contraction. With the PMI now indicating growth, the prospects for continued strong demand are even more robust," said Willie Walsh, IATA's director general.

Meanwhile, capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 7.1 per cent compared to April 2023, a similar growth to last month.

"The persistent capacity growth driven by returning passenger aircraft experienced a reduction in pace," said IATA.

The global economy has been performing well, IATA noted. In April, the PMIs for global manufacturing output and new export orders turned positive (51.5 and 50.5 respectively). This is the first time in two years that the new export orders PMI has been in growth territory, said the trade body.

Worldwide, Asia Pacific airlines had the best performance of all regions, while North American carriers had the worst performance.

European carriers also saw 12.7 per cent growth. Intra-European air cargo rose by a record 34.4 per cent compared to April 2023, reflecting the highest annual growth in over a decade.

Latin American carriers recorded 11.7 per cent growth, while African airlines achieved 10.6 per cent growth. Demand on the Africa-Asia market increased by 25.8 per cent year on year.

In comparison, Middle Eastern carriers saw 9.4 per cent growth, although the Middle East-Europe market performed particularly well with 30.1 per cent annual growth.

North American carriers saw 7 per cent growth, however, the North America-Europe route saw an increase of 5.6 per cent, marking the largest demand growth for this route since September 2022.

"Airlines from Asia Pacific and Europe recorded the highest growth rates, putting an end to the Middle Eastern carriers' seven-month run in topping the region's annual expansions," said IATA.

For more information about the U-Freight Group's global air freight forwarding and logistics services, please visit the relevant pages of this website or contact your local office, details of which can be seen here: https://www.ufreight.com/en/location