{"id":59653,"date":"2023-12-06T18:06:29","date_gmt":"2023-12-06T18:06:29","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/air-cargo-demand-up-3-8-in-october"},"modified":"2023-12-06T18:27:39","modified_gmt":"2023-12-06T18:27:39","slug":"air-cargo-demand-up-3-8-in-october","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/air-cargo-demand-up-3-8-in-october","title":{"rendered":"Air cargo demand up 3.8% in October"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>The International Air Transport Association (IATA) released data for October 2023 on global air cargo markets, which indicates the third consecutive month of stronger year-on-year demand. This is as African airlines saw air cargo volumes increase by 2.9% in October 2023, which is a marked improvement compared to September\u2019s performance (-0.1%). African carriers benefitted from the strongest annual growth since May (+16.7%) as the continent\u2019s capacity remained 9.8% above October 2022 levels.<\/p>\n

Meanwhile, global demand, measured in cargo tonne-kilometres (CTKs), increased by 3.8%, compared to October 2022. For international operations, the demand lagged slightly at 3.5%.<\/p>\n

In addition, global capacity, measured in available cargo tonne-kilometres (ACTKs), was up 13.1%, compared to October 2022 (11.1% for international operations). This was largely related to the growth in belly capacity. International belly capacity, for example, rose 30.5% year-on-year on the strength of passenger markets.<\/p>\n

\u201cDemand for air cargo was up 3.8% in October. That marks three consecutive months of year-on-year growth, placing air cargo on course to end 2023 on a much stronger footing than it began the year. Recovering demand, slightly stronger yields, and the uptick in trade are all good news. But with demand still 2.4% below pre-pandemic levels, and much uncertainty remaining over the trajectory of the global economy, optimism must be balanced with caution. Nonetheless, a continued strong peak year-end season will certainly help the sector to manage through whatever turns the global economy might take in 2024,\u201d said Willie Walsh, IATA\u2019s Director General.<\/p>\n

Other operating factors which influenced the latest figures include a slowing economy, easing inflation, and stabilising global trade.<\/p>\n

Global economic activities slowed in October, with the Purchasing Managers\u2019 Index for manufacturing output and export orders for major economies (excluding the US) remaining below the critical 50 mark.<\/p>\n

In addition, inflation in major advanced economies continued to ease from its peak in terms of Consumer Price Index (CPI), reaching between 3% and 4% for the US and for the EU respectively, in October. China\u2019s CPI, however, indicated deflation for the second time this year, raising concerns of an economic slowdown.<\/p>\n

Moreover, global trade reversed its downward trajectory, and stabilised in September. Although below its 2022 peak, global cross-border trade is more than 5% above pre-pandemic levels. And, after a continuous 17-month decline, air cargo yields ticked up in September, and continued into October with a 2.6% month-on-month gain, remaining well above pre-pandemic levels.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. The International Air Transport Association (IATA) released data for October 2023 on global air cargo markets, which indicates the third consecutive month of stronger year-on-year demand. This is as African airlines saw air cargo volumes increase by 2.9% in October 2023, which is a marked improvement compared to September\u2019s performance (-0.1%). African […]<\/p>\n","protected":false},"author":84,"featured_media":59651,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-59653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nAir cargo demand up 3.8% in October - Namibia<\/title>\n<meta name=\"description\" content=\"The International Air Transport Association (IATA) released data for October 2023 on global air cargo markets, which ind ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/air-cargo-demand-up-3-8-in-october\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Air cargo demand up 3.8% in October\" \/>\n<meta property=\"og:description\" content=\"The International Air Transport Association (IATA) released data for October 2023 on global air cargo markets, which ind ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/air-cargo-demand-up-3-8-in-october\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-06T18:06:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-06T18:27:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/12\/sm_1701874544.279322.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"473\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/air-cargo-demand-up-3-8-in-october#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/air-cargo-demand-up-3-8-in-october\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Air cargo demand up 3.8% in October\",\"datePublished\":\"2023-12-06T18:06:29+00:00\",\"dateModified\":\"2023-12-06T18:27:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/air-cargo-demand-up-3-8-in-october\"},\"wordCount\":396,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/air-cargo-demand-up-3-8-in-october#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2023\/12\/sm_1701874544.279322.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/air-cargo-demand-up-3-8-in-october#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/air-cargo-demand-up-3-8-in-october\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/air-cargo-demand-up-3-8-in-october\",\"name\":\"Air cargo demand up 3.8% in October - 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