African airlines experience a 1.6% year-on-year growth in air cargo demand for October 2024, the slowest growth among all regions, while cargo capacity rises by 7.7%. This indicates a widening gap between available cargo capacity and demand, highlighting challenges for African carriers in effectively utilizing their expanded capacity.
The International Air Transport Association (IATA) reports that although African airlines are increasing their cargo capacity, the region’s demand growth lags behind global trends. This slower growth points to difficulties in aligning capacity expansion with actual demand.
Globally, the air cargo market maintains a strong performance, with a 9.8% year-on-year rise in demand for October 2024, marking the 15th consecutive month of growth. Capacity also increases by 5.9%, largely driven by an 8.5% rise in international belly capacity.
Other regions report stronger performance compared to Africa. Airlines in Asia-Pacific lead with a 13.4% increase in demand, with a 9.3% rise in capacity. Latin American airlines see an 18.5% surge in demand, the highest among all regions, and a 5.8% increase in capacity. North American carriers report a 9.5% rise in demand, with capacity up by 5.8%. European airlines see a 7.6% increase in demand and a 3.9% rise in capacity, while the Middle East records a 4.5% growth in demand, with capacity up by only 0.8%.
While global air cargo markets show robust growth, Africa’s slower demand growth underscores regional challenges in matching cargo demand with increased capacity. Despite ongoing efforts to expand infrastructure, African airlines face difficulties in fully utilizing the additional cargo capacity.
IATA’s Director General, Willie Walsh, notes that while 2024 is shaping up to be a strong year for air cargo, caution is necessary for 2025. He points out that potential geopolitical and economic shifts, such as changes in trade tariffs, could disrupt global supply chains and negatively impact the air cargo market, adding uncertainty as the industry moves forward.
