According to the latest data from the International Air Transport Association (IATA), Latin American airlines experienced a year-on-year increase in air cargo demand of 12.6% during 2024, exceeding the increase in hold capacity, which was 7.9%. This growth was particularly reflected in December, with a 10.9% rise in demand and an 8.4% increase in hold transport capacity, making it the region with the highest growth in that month.
Globally, air cargo demand in ton-kilometers (CTK) increased by 11.3% compared to 2023, surpassing records set in 2021. Although hold capacity increased by 7.4% in 2024, yields were on average 1.6% lower than in 2023, but 39% higher than in 2019.
December 2024 closed the year with solid performance globally. North American airlines had the lowest year-on-year growth at 6.6% in 2024, while European companies recorded an increase of 11.2% and those from the Middle East 13%. African airlines, for their part, experienced a growth of 8.5% in the same period.
Asia-Pacific airlines led the air cargo demand growth with 14.5% in 2024, being the most robust region. However, in December, a decrease of 0.9% was recorded, the lowest among the regions.
Willie Walsh, Director General of IATA, pointed out that air cargo transportation has been the standout sector in 2024, with unprecedented air cargo flows driven by e-commerce and restrictions on sea transport. It is projected that in 2025, growth will moderate to 5.8%, with a year-on-year capacity increase of 13.6%.
Overall, air cargo transportation faces challenges in adapting to geopolitical changes, despite a year of profitable growth.
