The total global air freight tonne-kilometres climbed by 13.6 per cent from January to July 2024 when compared with the same period in 2023. This was revealed by the International Air Transport Association (IATA) in a recent statement.
IATA reported that in July, demands for air cargo by African carriers increased by 6.2 per cent year-on-year, the lowest growth rate among all regions and the lowest result since the beginning of 2024.
The overall levels reached heights not seen since the record high of 2021, according to IATA, which added that this was the seventh consecutive month of double-digit rise.
The international regulator indicated that capacity, which is expressed in available cargo tonne-kilometres, rose by 8.3 per cent for international operations as of July 2023, up from 10.1 per cent at that time.
IATA Director-General, Willie Walsh, responded to the data by stating that a robust increase was observed in all areas in July, when air freight demands reached record highs for the year.
He emphasised that the expansion of global trade, the rise of e-commerce and the limitations on maritime transport capacity all continued to be advantageous to the air cargo industry.
According to him, “With the peak season still to come, it is shaping to be a very strong year for air cargo and airlines have proven adept at navigating political and economic uncertainties to flexibly meet emerging demand trends.”
MEANWHILE, as part of Nigeria’s aviation ministry’s ambitious plan to establish Nigeria as a major player in the global cargo market, the Minister of Aviation and Aerospace Development, Festus Keyamo, who spoke at a recently concluded 4th CHINET AviaCargo conference, highlighted how a thriving cargo sector can lead to considerable economic benefits such as increased commerce, job growth, and foreign exchange revenues.
Represented by his Special Assistant, Janet Oputa, he said: “This directorate is tasked with implementing far-reaching policies and programmes that will catalyse the growth of our air cargo industry. These initiatives are designed to streamline operations, enhance infrastructure, and foster partnerships that will make our airports and logistics hubs the preferred gateways for cargo in the region.”
He pointed out that Nigeria can open up new markets for its exports, especially its agricultural items, by enabling the smooth flow of goods. The ministry demanded active cooperation from leaders in the sector, authorities, banks, and foreign partners to accomplish its objective of growing its cargo business into a multibillion-dollar industry that would make a major economic contribution to the country.
