Page 12 - STAT Trade Times Novemmber 2024 Magazine for Website

industryreport

UNENDING DEMAND BY

E-COMMERCE

FOR AIR CARGO…

AND THE STORY

WILL CONTINUE

E-commerce will become cyclical like the rest of the
air cargo industry but it is here to stay.

Jyothi Shankaran
he air cargo industry is all set for a indications of how US trade policy will evolve."
strong, solid finish in 2024, driven International routes experienced excep-
largely by the increasing demand tional traffic levels for a fifth month, with a Our integrated
Tfor e-commerce in the U.S. and 10.5 percent year-on-year increase in Sep- approach includes
Europe amid supply chain worries. Total de- tember. "Airlines are benefiting from rising
mand, measured in cargo tonne-kilometers e-commerce demand in the U.S. and Europe direct multi-modal
(CTKs), rose by 9.4 percent in September amid ongoing capacity limits in ocean ship-
2024 compared to September 2023 (10.5 ping," the IATA update added. Asia-North links for upstream
percent for international operations) for a America lane reported 7.6 percent demand cargo acceptance
14th consecutive month of growth. growth with a share of 25 percent and 11
Capacity, measured in available cargo consecutive months of growth. Within in Dongguan where
tonne-kilometers (ACTKs), increased by 6.4 Europe reported 18 percent demand growth
percent compared to September 2023 (8.1 with 1.9 percent share and 10 consecutive flight-ready exports
percent for international operations), accord- months of double digit growth. are consolidated and
ing to the latest data from the International Aggressive growth is likely to continue
Air Transport Association (IATA). (49 percent) for e-commerce cargo volumes, sent directly to/ from
Willie Walsh, Director General, IATA says: according to a survey by Rotate presented
“Yields are also improving, up 11.7 percent on at the recently concluded EU cross-border Hong Kong International
2023 and 50 percent above 2019 levels. All this e-commerce forum at Liege Airport, Bel- Airport (HKIA).
points to a strong finish for this year. For longer- gium. "Demand growth in 2025 will likely
term trends, the air cargo world will be closely be limited by available capacity. Policy and Tom Owen
following the outcome of the U.S. election for security are perceived as key risks to growth Cathay Cargo
10 | NOVEMBER 2024 www.stattimes.com