Global air cargo demand up 3.8% in October 2023, remains below pre-pandemic levels

Latest figures published by the International Air Transport Association (IATA) indicate that global demand for air cargo rose 3.8% in October 2023 compared with the same period last year, marking a third consecutive month of stronger year-on-year demand. Although international demand lagged slightly at 3.5%, global capacity was up 13.1% compared to October 2022 (11.1% for international operations). This was largely linked to the growth in international belly cargo capacity, which rose 30.5% year-on-year on the strength of the passenger markets. Middle eastern carriers had the strongest regional performance in October 2023, enjoying a  10.9% year-on-year increase in cargo volumes.