Its data for November says that demand measured in cargo tonne kilometres increased 8.2% in total and 9.5% for international operations.
Capacity measured in available CTK (ACTK) increased by 4.6% in total and 6.5% for international operations.
Willie Walsh, Director General of IATA says 2024 was a good year with demand growing faster than supply, fuel costs 22% below last year and the market conditions supporting yield growth of 7.8%.
He says, “All things considered we are looking to close out 2024 air cargo performance on a profitable note. While this strong performance is very likely to extend into 2025, there are some downside risks that must be carefully watched. These include inflation, geopolitical uncertainties and trade tensions.”
The factors affecting the operating environment that IATA highlighted were industrial production rising 2.1% year-on-year in October and the global goods trade growing 1.6%.
The Purchasing Managers Index (PMI) for global manufacturing output was above 50 in November, indicating growth though the PMI for new export orders remained below 50, suggesting ongoing uncertainty and weakness in global trade.
US headline inflation based on the Consumer Price Index (CPI) rose by 0.1 percentage points to 2.7% in November, while the CPI increased 0.2 percentage points to 2.5% in the European Union.
In China, consumer inflation fell to 0.2%, continuing concerns of an economic slowdown.