GENEVA, April 29 (Xinhua) -- Global air cargo demand fell 4.8 percent year-on-year in March, weighed down by disruptions in the Middle East, the International Air Transport Association (IATA) said on Wednesday.
Air cargo demand in the Middle East plunged 54.3 percent, marking the weakest performance among all regions, according to IATA data.
IATA Director General Willie Walsh said the decline was "mostly due to severe disruptions at major Gulf hubs due to war in the Middle East."
Despite the downturn, Walsh noted that underlying demand trends remain strong, with recent revisions to trade and GDP projections by the World Trade Organization and the International Monetary Fund still pointing to growth in 2026.
He added that fuel supply and prices are likely to test the industry's resilience in the coming months.
IATA data also showed that jet fuel prices surged 106.6 percent year-on-year in March, alongside a 43.1 percent increase in crude oil prices and a 320 percent spike in refining margins. ■
