IATA Reports Strong Air Cargo and Passenger Growth in November 2024

January 10, 2025

Air Cargo Market - November 2024

Geneva - The International Air Transport Association (IATA) released data for November 2024 global air cargo markets showing:

• Total demand, measured in cargo tonne-kilometers (CTK), rose by 8.2% compared to November 2023 levels (9.5% for international operations) for a 16th consecutive month of growth.
• Capacity, measured in available cargo tonne-kilometers (ACTK), increased by 4.6% compared to November 2023 (6.5% for international operations).

"It was a good November for air cargo with 8.2% demand growth nearly doubling the 4.6% growth in cargo capacity. Fuel costs tracked at 22% below previous-year levels and tight market conditions supported yield growth at 7.8%. All things considered we are looking to close out 2024 air cargo performance on a profitable note. While this strong performance is very likely to extend into 2025, there are some downside risks that must be carefully watched. These include inflation, geopolitical uncertainties and trade tensions,” said Willie Walsh, IATA’s Director General.

Air Passenger Market - November 2024

IATA also released data for November 2024 global passenger demand:

• Total demand, measured in revenue passenger kilometers (RPK), was up 8.1% compared to November 2023.
• Total capacity, measured in available seat kilometers (ASK), was up 5.7% year-on-year.
• The November load factor was 83.4% (+1.9 ppt compared to November 2023), an all-time high for November.

“November was another month of strong growth in the demand for air travel...The 2025 New Year’s resolution for the aerospace manufacturing sector must be finding a fast and durable solution for their supply chain issues,” said Willie Walsh, IATA’s Director General.

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