Air Cargo demand surges 10.8% in December

Full-year demand reached a level just slightly below 2022 and 2019. 

Middle Eastern carriers reported an increase in demand of 1.6% for global and international demand in 2023 compared to 2022 and an increase in capacity of 13.5% (+13.6% for international operations). In December airlines in the region posted an 18.3% increase in demand for both global and international operations compared to 2022. Capacity increased 17.7% (+17.8% for international operations) during the same period.

African airlines reported a decrease in demand of 1.8% (-2.0% for international demand) in 2023 compared to 2022 and an increase in capacity of 5.6% (+5.0% for international operations). In December airlines in the region posted the weakest performance of all with a 1.2% decrease in demand (-1.4% for international operations) compared to 2021. Capacity grew 7.4% (+6.8% for international operations) during the same period.

“Despite political and economic challenges, 2023 saw air cargo markets regain ground lost in 2022 after the extraordinary COVID peak in 2021. Although full year demand was shy of pre-COVID levels by 3.6%, the significant strengthening in the last quarter is a sign that markets are stabilising towards more normal demand patterns. That puts the industry on very solid ground for success in 2024. But with continued, and in some cases intensifying, instability in geopolitics and economic forces, little should be taken for granted in the months ahead,” said Willie Walsh, IATA’s director general.

Other regional performance

Asia-Pacific airlines posted a 0.9% increase in demand in 2023 compared to 2022 (-1.4% for international operations) and a capacity increase of 28.5% (+16.6% for international operations). In December, airlines in the region recorded the best performance of all regions, posting an 18.5% increase in demand (+15.4% for international operations) compared to 2022. Capacity increased 31.1% (+22.9% for international operations) during the same period.

North American carriers reported the worst year-on-year performance of all regions, with a 5.7% decrease in demand in 2023 compared to 2022 (-4.3% for international operations) and a capacity increase of 0.3% (+2.7% for international operations). In December airlines in the region reported a 2.0% decrease in demand (+5.9% international operations), compared to 2022. Capacity increased 2.4% (+8.5% for international operations) during the same period.

European carriers posted a 3.9% decrease in demand in 2023 compared to 2022 (-4.1% for international operations). During the same period, airlines posted a capacity increase of 4.5% for both global and international operations. In December, airlines in the region posted an 8.6% increase in demand (+8.7% for international operations) compared to 2022. Capacity increased 7.4% (+7.5% for international operations) during the same period. Airlines in the region continued to be most affected by the war in Ukraine.

Latin American carriers posted the strongest year-on-year performance of all regions, with a 2.0% increase in demand in 2023 compared to 2022 (+1.9% for international operations). During the same period, airlines posted a capacity increase of 13.2% (+16.9% for international operations). In December airlines in the region posted growth in demand of 6.4% (+6.3% for international operations) compared to 2021. Capacity grew 3.5% (+4.2% for international operations) during the same period.