Air cargo tonnages up 12% in 2024 first half

Global air cargo tonnages were up by +12% in the first half of 2024 YoY, according to WorldACD, with +11% growth in the second quarter (Q2) following on from the +12% recorded in Q1.

Demand from all world origin regions was up with Asia Pacific and MESA origins topping the growth list at +19% each, Africa (+8%), Europe (+7%), CSA (+5%) and North America (+2%).

The preliminary figure for June of +9%, YoY, was slightly below the average YoY full-month tonnage growth figure so far this year.

MESA origins in Q2 were still significantly higher (+13%) YoY, but it was well below the +27% growth recorded in Q1, from a region particularly affected by the disruptions in the Red Sea.

Tonnages from Asia Pacific origins in Q2 were up by +18%, YoY, similar to the +20% YoY growth recorded in the first quarter of this year.

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Whereas global average rates in the first four months of 2024 were down YoY, by May they had moved back into positive territory (+2%), with the gap widening to +9% in June, when they averaged $2.52 per kilo.

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