Asia-Pacific Cargo Growth Slows in February — IATA Report

Despite the global air cargo market experiencing a robust 11.9% growth in February 2024, the Asia-Pacific region witnessed a sharp slowdown in momentum, with cargo demand growth decelerating to 11.9% from January's 24.3%.

According to the International Air Transport Association (IATA), this slowdown comes after the Lunar New Year celebrations, marking a significant drop in the region's cargo activity.

Although global capacity saw a 13.4% increase, the Asia-Pacific region's capacity surged by 23.1%, primarily due to the resurgence of belly capacity with passenger flight recoveries.

This situation underscores the region's challenging landscape amidst recovering passenger services and fluctuating cargo demands, IATA said in a statement.