The International Air Transport Association (IATA) has released “data for November 2023 global air cargo markets indicating the strongest year-on-year growth in roughly two years. This is partly due to weakness in November 2022, but also reflects a fourth consecutive month of strengthening demand for air cargo.”
According to the data, “African airlines saw their air cargo volumes increase by 3.9% in November 2023, slightly improved compared to October’s +2.9% growth performance. Capacity was 14.0% above November 2022 levels.”
IATA says: “Global demand for air cargo, measured in cargo tonne-kilometres (CTKs), increased by 8.3% compared to November 2022. For international operations, demand growth was 8.1%. Capacity, measured in available cargo tonne-kilometres (ACTKs), was up 13.7% compared to November 2022 (+11.6% for international operations). Most of the capacity growth continues to be attributable to the increase in belly capacity as international passenger markets continue their post-COVID recovery.”

Compared to November 2019 (pre-COVID-19), demand is down 2.5% while capacity is up 4.1%.
Willie Walsh, IATA’s Director General said, “November air cargo demand was up 8.3% on 2022—the strongest year-on-year growth in almost two years. That is a doubling of October’s 3.8% increase and a fourth month of positive market development. It is shaping up to be an encouraging year-end for air cargo despite the significant economic concerns that were present throughout 2023 and continue on the horizon.”

Air cargo market in detail – November 2023

November 2023
(% year-on-year)
World share1
CTK
ACTK
CLF (%-pt)2
CLF (level)3

Total Market
100.0%
8.3%
13.7%
-2.3%
46.7%

Africa
2.0%
3.9%
14.0%
-4.1%
42.1%

Asia Pacific
32.4%
13.8%
29.6%
-6.6%
47.9%

Europe
21.8%
6.7%
6.5%
0.1%
57.0%

Latin America
2.7%
4.2%
7.7%
-1.2%
36.3%

Middle East
13.0%
13.5%
15.4%
-0.8%
46.9%

North America
28.1%
1.8%
4.0%
-0.9%
40.8%

1% of industry CTKs in 2022   2year-on-year change in load factor   3Load Factor Level

The post African Airlines Air Cargo Volumes Increase By 3.9% In November 2023 appeared first on Aviation and Allied Business Publications.