The global representative body for the airline industry, the International Air Transport Association (IATA), has reported that there was strong demand for air cargo during August. All regions saw growth.

“Air cargo demand rose 4.4% year-on-year in August with all regions reporting growth even as capacity was trimmed by 0.1%,” highlighted IATA senior VP sustainability and chief economist Marie Owens Thomsen. “Strong demand and higher load factors helped airlines recoup some of the exceptionally high fuel costs. Yields rose month-on-month for the first time since April, while global goods trade growth continues. Both are positive signs as the year-end peak season comes into view.”

International air cargo demand increased even more strongly than total demand, hitting 5.3%, year-on-year, in August. And while overall capacity went down slightly, international capacity went up, although also marginally, by 0.1%.

Wider economic factors which affected air cargo included global trade, which increased by 6% year-on-year in July. This was the thirty-third month in a row of year-on-year growth. The Global Manufacturing Output Purchasing Managers’ Index (PMI) increased by 0.3 points in August, to 53.0, while the New Export Orders PMI went up by 1.4 points to 51.4; both figures showed growth, and so were beneficial for air cargo demand.

Jet fuel prices jumped 79.2% year-on-year in August, and were up 8.3%, month-on-month.

The region that saw the strongest year-on-year growth in air cargo demand in August was North America, at 6.6%. Then came Latin America and the Caribbean, at 5.1%. Next was the Asia-Pacific, at 4.3%, and then Europe (4.1%), Africa (3%) and the Middle East (1%).   

In terms of capacity, the region that had the strongest year-on-year increase in August was Africa, at 14%, followed by Latin America and the Caribbean (3.3%) and the Middle East (also 3.3%), while the Asia-Pacific saw a rise of 1.2%. Air cargo capacity in North America decreased by -2.5% and in Europe by -3.5%.

Regarding the major trade lanes, the one that experienced the greatest year-on-year growth in August was Asia-North America, which jumped 13.2%. Then came within Asia (6.1%), Europe-North America (4.3%), and Europe-Asia (3.1%). The Middle East-Asia route saw a drop of -11%, followed by Africa-Asia (-11.9%), and Europe-Middle East (-12.1%).