IATA: African airlines’ cargo demand increased by 10.6% in April

The International Air Transport Association (IATA) says the cargo volumes for African airlines increased year-on-year by 10.6 percent in April 2024.

IATA disclosed this in a report published on Wednesday.

The group said demand on the Africa-Asia market increased by 25.8 percent in the current year compared to April 2023.

“April capacity increased by 18.7 percent year-on-year,” IATA said.

The group said global air cargo markets had a strong annual growth in demand into the second quarter (Q2) of the year.

“In April year-on-year, Africa recorded 2.0 percent world share; 10.6 percent CTK; 18.7 percent ACTK; -3.1 percent cargo load factor (CLF) points and 42.9 percent CLF level.

“Globally, the total demand, measured in cargo tonne-kilometers (CTKs), rose by 11.1 percent compared to April 2023 levels (11.6 percent for international operations), making it the fifth consecutive month of double-digit year-on-year growth.

“It indicates that the capacity, measured in available cargo tonne-kilometers (ACTKs), increased by 7.1 percent compared to April 2023 (10.2 percent for international operations).”

Commenting on the record, Willie Walsh, IATA’s director-general, said air cargo demand started Q2 with “a solid 11.1 percent increase”.

“While many economic uncertainties remain, it appears that the roots of air cargo’s strong performance are deepening,” Walsh said.

“In recent months, air cargo demand grew even when the Purchasing Managers Index (PMI) indicated the potential for contraction.

“With the PMI now indicating growth, the prospects for continued strong demand are even more robust.”

Walsh said the PMIs for global manufacturing output and new export orders turned positive in April (51.5 and 50.5 respectively), making it the first time in two years that the new export orders PMI had been in growth territory.

He also said industrial production increased by 1.6 percent in March year-on-year, while global cross-border trade contracted by 0.8 percent.

The IATA report said inflation remained relatively stable across the US, EU, and Japan in April, with rates at 3.4 percent, 2.6 percent, and 2.5 percent, respectively.

On the other hand, the group said China reported a 0.2 percent increase in consumer prices year-on-year, a positive signal amid concerns over the country’s economic slowdown.