Global air travel and cargo volumes set records in 2024, driven by Asia-Pacific growth

businesstimes01-30

GLOBAL air passenger and cargo volumes posted record highs in 2024, with the Asia-Pacific contributing the most to the growth of the aviation industry.The world’s demand for air travel, as measured in...

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Global cargo tonne kilometres (CTK) for 2024 rose 11.3 per cent, exceeding the previous record in 2021 by 0.5 per cent. The Asia-Pacific was the biggest contributor in both areas: Worldwide, it added 51.2 per cent of passenger traffic growth, and 46.6 per cent of cargo traffic growth.RPK is a measure of actual demand for air transport, derived by multiplying the number of paying passengers by the number of kilometres flown. CTK is a similar measure, but for cargo, calculated by multiplying the tonnage of freight carried by the distance flown.Start and end each day with the latest news stories and analyses delivered straight to your inbox.The Asia-Pacific region clocked the most growth, and remained the biggest market in both passenger and cargo aviation. RPK there rose 16.9 per cent, and the region accounted for a third (33.5 per cent) of the global total.Africa was the only other region that had double-digit growth, at 13.2 per cent. The second-largest market by passenger volume was Europe, with a 26.7 per cent share, but growth there was only 8.7 per cent. Iata noted that 2024 marked a “total regional recovery”, in that all regions surpassed their pre-pandemic levels. Globally, airline passenger capacity – measured in available seat kilometres – went up 8.7 per cent. Capacity utilisation was a record high, at 83.5 per cent. Iata director-general Willie Walsh said that people made it clear in 2024 that they wanted to travel. “With 10.4 per cent demand growth, travel reached record numbers domestically and internationally,” he said.He added: “Airlines met that strong demand with record efficiency. On average, 83.5 per cent of all seats on offer were filled – a new record high, partially attributable to the supply chain constraints that limited capacity growth.”This year, he expects passenger aviation to grow at a moderated pace – by 8 per cent, which is more aligned with historical averages. In cargo, Asia-Pacific’s CTK grew 14.5 per cent yoy, outstripping Latin America in second place at 12.6 per cent. Asia-Pacific also retained 34.2 per cent of the total cargo market, compared to second-place North America, with 25.8 per cent. “Air cargo was the standout performer in 2024, with airlines moving more air cargo than ever before,” said Walsh, who noted that air cargo’s 11.3 per cent expansion was driven by strong e-commerce and cargo being put on planes because of ocean-shipping restrictions.“Economic fundamentals point to another good year for air cargo – with oil prices on a downward trajectory and trade continuing to grow,” he said, but added that cargo growth is expected to moderate to 5.8 per cent in line with historical performance. But he also cautioned about challenges ahead.“The first week of the Trump administration demonstrated its strong interest in using tariffs as a policy tool, which could bring a double whammy for air cargo – boosting inflation and deflating trade,” said Walsh.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.32.1","shortVersion":"4.32.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2508919398"}