African airlines leads in international cargo growth, record 18.2% growth in May 2024

With an astounding 18.2% increase in May 2024, African airlines recorded the highest yearly growth rate in international cargo tonne-kilometres (CTKs) among all global regions.

 A crucial indicator for the aviation sector, CTKs calculate the volume of air cargo by multiplying the cargo’s weight (in tonnes) by the flight distance (in kilometers).

 This offers a consistent method for evaluating cargo transportation offered by airlines over various distances.

The latest International Air Transport Association (IATA) report, which analyzes the air cargo market for May 2024, highlighted that African airlines not only led in annual growth but also saw a month-on-month increase of 7.2% compared to April 2024, the highest among all carriers globally.

Following closely, airlines registered in the Asia-Pacific region recorded an annual growth rate of 18.1% in international cargo tonne-kilometres for May 2024, making them the second highest in this category.

“Airlines registered in Africa and Asia Pacific led with the highest annual growth rates in international CTKs, with 18.2% and 18.1%, respectively.

“For African carriers, the figure increased by 7.2percentage points (ppts) compared to April, the highest increase among all carriers,” the report read in part.

Trailing African and Asia-Pacific airlines in annual international cargo growth for May 2024, European carriers experienced a 17.5% year-over-year increase, followed by those in the Middle East with a 15.3% rise, and Latin American airlines with an 11.3% increase.

Consistent with the previous three months, North American carriers exhibited the smallest annual growth, albeit a solid 9.6% year-over-year.