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6SINGAPOREAIRFREIGHTDIRECTORY2024/2025KEEPINGTHEGLOBALECONOMYMOVINGDespite
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regainpoliticalandeconomicchallenges2023sawaircargomarketsregaingroundlostin2022aftertheCOVIDpeakin2021Althoughfullyeardemandwasshyofpre-COVIDlevelsby 36per cent the significantstrengtheninginthelastquarterisasignthatmarketsarestabilisingtowardsmorenormaldemandpatternssaidMrWillieWalshDirectorGeneralofInternationalAirTransportAssociation(IATA)TheIATAalsoreleasedthedatashowingthatglobalaircargokickedofftoastrongstartin2024withanimpressive184percentincreasecomparedtoJanuary2023levelsThissignificantupturnmarksthehighestannualgrowthincargotonne-kilometers(CTKs)sincethesummerseasonof2021TheIATAreportedthatcapacitymeasuredinavailablecargotonne-kilometres(ACTKs)wasup146 per cent compared to January2023(182percentforinternationaloperations)ThiswaslargelyrelatedtothegrowthinbellycapacityInternationalbellycapacityrose258percentyear-on-year(YoY)onthestrengthofpassengermarketsAIRCARGO—CRITICALFORGLOBALECONOMYAt
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MtheWorldCargoSymposiumheldinMarch2024inHongKongMrBrendanSullivanIATAsGlobalHeadofCargounderscoredthataircargoiscriticalfortheglobaleconomyanditimprovespeopleslivesDuringthepandemiccollectivelywebroughtmedicalsuppliesandvaccinestowheretheywereneededAircargodelivers