Slight decline in air cargo traffic in February

February saw a small year-over-year contraction in air cargo traffic, the first YoY decline since July 2023. February’s air cargo traffic, measured in cargo tonne kilometers (CTK), fell 0.1% YoY, according to data released today by IATA . YoY comparisons were affected by the extra day in February 2024 due to the leap year, IATA noted. Traffic on international lanes rose 0.4% YoY. Capacity, measured in available CTKs, fell 0.4% YoY and rose 1.1% YoY for international operations. “Much of this is explained by February 2024 being extraordinary — a leap year that was also boosted by Chinese New Year traffic , sea lane closures and a boom in e-commerce ,” IATA Director General Willie Walsh said in the release. External factors The release highlighted these operating environment factors: Industrial production rose 3.2% YoY in January, the highest growth rate in two years, and global trade grew for a tenth consecutive month with a 5% YoY increase in January, the latest data available. Jet fuel prices averaged $94.60 per barrel in February, a 2.1% drop from January. February’s Purchasing Managers’ Index (PMI) for global manufacturing output was 51.5, its highest reading since July 2024. A PMI above 50 indicates growth and one below 50 indicates contraction. The PMI for new export orders rose to 49.6. Consumer inflation remained elevated in the United States, Europe and Japan in February, easing slightly from the previous month. In contrast, China recorded its first decline in consumer prices in eleven months, “reinforcing signs of persistent deflationary pressure in the economy,” according to IATA. “Rising trade tensions are, of course, a concern for air cargo ,” Walsh said. “With equity markets already showing their discomfort, we urge governments to focus on dialogue over tariffs .” [caption id="attachment_57149970" align="aligncenter" width="1318"] (Courtesy/IATA) [/caption] Regional performance Except for Asia Pacific and Latin America, carriers across all regions saw YoY decreases in traffic in February. Similarly, carriers across all regions except Asia Pacific and Latin America saw YoY declines in capacity. By region YoY: Latin American carrier traffic grew 6% and capacity grew 7.6%; Asia-Pacific carrier traffic grew 5.1% and capacity grew 2.7%; European carrier traffic fell 0.1% and capacity fell 0.2%; North American carrier traffic fell 0.4% and capacity fell 3.5%; African carrier traffic fell 5.7% and capacity fell 0.6%; and Middle Eastern carrier traffic fell 11.9% and capacity fell 4%. The trans-Pacific corridor remained the busiest trade lane in February with a 24.4% industry market share, while the Africa-Asia trade lane remained the quietest with a 1.4% industry market share. By trade lane: Intra-Asia grew 9% YoY, its 16th consecutive month of growth; Europe-Asia grew 4.7% YoY, its 24th consecutive month of growth; North America-Europe grew 4.5% YoY, its 13th consecutive month of growth; Asia-North America grew 0.1% YoY, its 16th consecutive month of growth; Middle East-Asia fell 6.2% YoY, its second consecutive month of contraction; Middle East-Europe fell 14.1% YoY, its second consecutive month of contraction; and Africa-Asia fell 30% YoY, its third consecutive month of contraction. Register now for Cargo Facts EMEA, an essential regional event for industry stakeholders, on May 6-8 at the Shangri-La Bosphorus in Turkey.

Slight decline in air cargo traffic in February

Latin America saw most growth at 6%; Middle East fell 11.9%

SolitAir CEO Osman joins Cargo Facts EMEA 2025

Buffalo continues jet fleet growth with first 737-200

Related Posts

Retaliatory tariffs hit US imports into Canada

July cargo traffic data shows global growth ahead of uncertain peak

Freighter capacity grew in August

Buffalo continues jet fleet growth with first 737-200

Cargo Facts Free Newsletters

Cargo Facts Connect Podcast

Follow Us

Welcome Back!

Retrieve your password