International Air Transport Association (IATA)
Airlines in the Asia-Pacific region are seeing busier cargo operations as they deliver more packages of online shoppers across the borders, according to the International Air Transport Association (IATA).
In its latest report, IATA noted that air cargo demand in the region grew by 13.4 percent year-on-year in October.
Article continues after this advertisement“Airlines are benefiting from rising e-commerce demand in the US and Europe amid ongoing capacity limits in ocean shipping,” IATA said.
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Online shopping has become more popular during the pandemic as this limits the exposure to the virus.
Article continues after this advertisementWith more people getting accustomed to e-commerce—also because of its convenience—the logistics sector, which includes airlines, has been beefing up capacity to ensure a smooth flow of supply chain.
Article continues after this advertisementGlobally, IATA noted that air cargo demand was up 9.8 percent in October.
Article continues after this advertisementLeading the world market during the period was Latin America with 18.5 percent, followed by Asia-Pacific.
North America registered a 9.5-percent uptick while Europe saw a 7.6-percent growth. The Middle Easttmt playern market grew by 4.5 percent while Africa was the laggard with 1.6-percent increase.
Article continues after this advertisementIATA director general Willie Walsh said that while 2024 was “shaping up to be a banner year for air cargo,” the industry must “look to 2025 with some caution.”
“The incoming Trump Administration’s announced intention to impose significant tariffs on its top trading partners—Canada, China and Mexico—has the potential to upend global supply chains and undermine consumer confidence,” Walsh said.
Imposing tariffs on goods can jack up consumer prices, which will stoke inflation as a result.
“The air cargo industry’s proven adaptability to rapidly evolving geopolitical and economic situations is likely to be tested as the Trump agenda unfolds,” Walsh added.
Asia Pacific holds the biggest cargo traffic market share with 33.3 percent, followed by Europe with 21.4 percent and North America with 26.9 percent.
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The Middle East, Latin America and Africa represent 13.5 percent, 2.8 percent and 2 percent, respectively.
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