World air cargo tonnages close 2023 up 3% year-on-year

Despite a predicted end-of-year slowing, global air cargo tonnages in Q4 2023 have concluded the year up 3% compared to the close of 2022, analysis from World ACD has confirmed. After ‘weeks of stabilizing global tonnages and steady growth in rates, especially outbound China,’ World ACD notes that the final fortnight of 2023 saw overall worldwide tonnages decrease by -4% with a decline in average rates (-3%) primarily driven by freight from the Asia Pacific segment. Regionally, a drop of -15% in tonnages included a decline of cargo departing from the Middle East and South Asia to Europe (-9%) and