Today's Edition
KHALED AL KHAWALDEH (ABU DHABI)
Middle Eastern carriers experienced an 20.9% increase in demand between February 2023 and 2024, according to new data released by the International Air Transport Association (IATA).
According to the data, the total demand rose by 11.9%, with the Middle East experiencing the second highest Year-on-Year (YoY) increase after Africa which saw a 22% rise. The two regions were followed by Europe (14.6%), and Latin America (13.7%).
The increase recorded in the Middle East was substantial considering its market share of air cargo was 13.5% compared to just 2% that passes through Africa.
The Middle East–Europe market was the strongest performing with 39.3% growth, which was substantially ahead of Middle East-Asia which grew by 21.9% YoY. Moreover, the capacity of carriers grew 16.2% YoY, ranking third behind Africa and the Asia Pacific.
The report noted that the rise of the global manufacturing output Purchasing Managers’ Index (PMI) to 51.2 points in February indicated that trade was healthy and was likely to continue to grow into 2024. It also pointed out macroeconomic trends, like the stabilisation of inflation and the increase of cross-border trade as being sources of optimism.
“February’s demand growth of 11.9% far outpaced the 0.9% expansion in cross-border trade. This strong start for 2024 could see demand surpass the exceptionally high levels of early 2022,” said Willie Walsh, IATA’s Director General.
“It also shows air cargo’s strong resilience in the face of continuing political and economic uncertainties.”
Last week, the UAE bolstered its ambitions to be a global cargo hub with the launch of a Cargo Data Reporting System (CARDS), which provides a range of technical services to government entities, national airlines, ground handling agents and express service providers.
“In addition to the UAE’s continuous investment in developing its capabilities and potential in this key and important sector, the CARDS platform represents a new step towards the UAE’s global leadership in this vital sector,” said Abdullah bin Touq Al Marri, UAE Minister of Economy and Chairman of the Board of Directors of the GCAA.
“It provides a data repository to monitor challenges and identify obstacles that may face air cargo movements to, from and through the country, which supports the UAE’s development and economic plans, in line with the objectives of the “We the UAE 2031” vision to make the UAE a global centre for the new economy and the transition to future sectors such as aviation and logistics.”
