September Growth for Both Passenger & Cargo Markets

Welcome back! Did you know we're already more than 85% of the way through 2023? You probably have lots to do, so let's get to it.

Air Cargo Demand Up 1.9% in September While Passenger Demand Provides Solid End to Third Quarter

The 3rd quarter of 2023 ended on a high note, with record domestic passenger demand for September and continued strong international traffic.

There is every reason to believe that this momentum can be maintained in the New Year, despite economic and political uncertainties in parts of the world.

Willie Walsh, IATA’s Director General:

With the end of 2023 fast approaching, we can look back on a year of strong recovery in demand as passengers took full advantage of their freedom to travel.

Total traffic in September 2023 rose 30.1% compared to September 2022.

Globally, traffic is now at 97.3% of pre-COVID levels.

Read the full press release on passenger demand for September.

On the air cargo side, markets showed continuing demand growth of 1.9% in September 2023 compared to the same month in 2022, despite falling trade volumes and high jet fuel prices.

"That clearly shows the strength of air cargo’s value proposition. With the key export order and manufacturing PMIs hovering near positive territory, we can be cautiously optimistic for a strong year-end peak season," added Willie Walsh.

Read more about September air cargo demand.

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Video of the Week: Everything You Need to Know About Airport Slots

Welcome Sun Country Airlines!

Congratulations Sun Country Airlines for joining IATA's airline membership!

Sun Country is a low-cost carrier based in Minnesota, U.S.

It offers a flexible business model combining scheduled passenger, cargo and charter/CMI services to over 80 destinations in the US, Canada, Mexico, Central America and the Caribbean.

It currently operates a modern fleet of 54 Boeing 737-700 and 737-800NG aircraft.

Chart of the Week: Green Energy Funds Underperform the Oil and Gas Sector

While the global demand for clean and renewable energy sources is growing, the performance of the funds that invest in them has been lagging the conventional energy sector.

Since January 2022, the total returns of exchange traded funds (ETFs) that focus on solar, wind, and other green technologies have been negative, while the traditional energy funds have risen strongly (see chart above).

Unless policymakers intervene to alter the investment proposition by supporting renewable energy at least to match governments’ subsidies of oil and gas production, the capital reallocation will struggle to materialize.

Read more about the #WeeklyChart and supporting renewable energy.

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