North American air cargo demand dips in February

Air cargo volumes in North America declined in February, marking the region’s first year-over-year drop since mid-2023, according to the International Air Transport Association (IATA).

IATA reported a 0.4 per cent decrease in cargo demand, measured in cargo tonne-kilometres (CTK), compared to February 2024. Capacity, measured in available cargo tonne-kilometres (ACTK), also fell by 3.5 per cent year-over-year.

IATA said the decline was partly due to an exceptional February 2024, which had an extra day from the leap year and saw higher demand due to Chinese New Year, disruptions in ocean shipping routes and a surge in e-commerce.

Globally, total air cargo demand dipped by 0.1 per cent, while capacity fell by 0.4 per cent. The Middle East saw the steepest decline, with demand plummeting 11.9 per cent, while Latin America recorded the strongest growth at six per cent.

IATA Director General Willie Walsh warned that rising trade tensions could further impact air cargo markets. “With equity markets already showing their discomfort, we urge governments to focus on dialogue over tariffs,” he said.

Despite the decline in cargo volumes, indicators such as global industrial production and trade expansion showed positive momentum. The global manufacturing Purchasing Managers Index (PMI) remained above the 50-mark, signaling growth, though export orders were still slightly below expansion levels.

The busiest trade lane remained the Trans-Pacific corridor, while intra-Asia cargo movements surged, overtaking some traditional routes.