African airline cargo demand up 8.5% in 2024, continent accounted for 2% air cargo mkt

African airlines saw 8.5% year-on-year demand growth for air cargo in 2024 according to the International Air Transport Association (IATA) full-year analysis of the air cargo sector’s performance based on traffic and capacity data captured in each region worldwide.

On a year-on-year basis in 2024, African airlines saw 8.5% year-on-year demand growth for air cargo; an increased cargo capacity by 13.6% year-on-year achieving a 41.8% cargo load factor (i.e. less than half of the available capacity was taken up by the market.

Ethiopian Airlines cargo

However, in December 2024 demand fell by -0.9% year-on-year, which was the lowest of all regions and capacity increased by 1.8%.

The air cargo sector is a useful barometer of intra-regional and global trade and economic performance.

Although air cargo volumes are a fraction of the tonnage carried by sea, road, river and rail, items transported by aircraft are generally high-value items (computer chips, smartphones, tablets, jewellery, documents etc.) and perishables (food, flowers, pharmaceuticals, transplant organs, etc.) while e-commerce also accounts for a steadily increasing segment of the market.

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The Director-General of IATA, Willie Walsh said air cargo was the standout performer in 2024 with airlines moving more air cargo than ever before.

“Importantly, it was a year of profitable growth. Demand, up 11.3% year-on-year, was boosted by particularly strong e-commerce and various ocean shipping restrictions. This combined with airspace restrictions which limited capacity on some key long-haul routes to Asia helped to keep yields at exceptionally high levels. While average yields continued to soften from peaks in 2021-2022 they averaged 39% higher than 2019.”

Looking to 2025, IATA estimates growth to moderate to 5.8%, aligned with historical performance.

“Economic fundamentals point to another good year for air cargo—with oil prices on a downward trajectory and trade continuing to grow. There is no doubt, however, that the air cargo industry will be challenged to adapt to unfolding geopolitical shifts. The first week of the Trump administration demonstrated its strong interest in using tariffs as a policy tool that could bring a double whammy for air cargo—boosting inflation and deflating trade,” said Walsh.

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Regional Performance

Asia-Pacific airlines saw 14.5% year-on-year demand growth for air cargo in 2024, the strongest among the regions. Capacity increased by 11.3% year-on-year. December year-on-year demand increased 8.4% and capacity increased 6.3%.

North American carriers saw 6.6% year-on-year demand growth for air cargo in 2024, the lowest of all regions. Capacity increased by 3.4% year-on-year. December year-on-year demand increased 5.3% and capacity increased 2.1%.

European carriers saw 11.2% year-on-year demand growth for air cargo in 2024. Capacity increased by 7.8% year-on-year. December year-on-year demand increased 5.1% and capacity increased 3.7%.

Middle Eastern carriers saw 13% year-on-year demand growth for air cargo in 2024. Capacity increased by 5.5% year-on-year. December year-on-year demand increased 3.3% and capacity increased 0.2%.

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Latin American carriers saw 12.6% year-on-year demand growth for air cargo in 2024. Capacity increased by 7.9% year-on-year. December year-on-year demand increased by 10.9%, the highest of all regions and capacity increased by 8.4%.

African airlines saw 8.5% year-on-year demand growth for air cargo in 2024. Capacity increased by 13.6% year-on-year. December year-on-year demand decreased by -0.9%, the lowest of all regions and capacity increased by 1.8%.

Trade Lane Growth: International routes experienced exceptional traffic levels for the 17th consecutive month with a 7% year-on-year increase in December. Airlines are benefiting from rising e-commerce demand in the US and Europe amid ongoing capacity limits in ocean shipping.

Wole Shadare

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