Global Air Cargo Market Sees Continued Growth in March 2024

Global air cargo demand increased by 11% year on year in March for the third consecutive month, driven by factors like e-commerce and disruptions in Red Sea shipping. Xeneta's latest analysis revealed that the higher volumes in the first quarter outpaced capacity growth, which grew by 8% year on year. This led to a rise in the global dynamic load factor, Xeneta's measure of cargo capacity utilization based on volume and weight flown alongside available capacity. The load factor for the first quarter of 2024 increased by two percentage points year on year to 59%, with March showing similar growth at 61%.