In a recent interview with AeroTime, Audrone Keinyte, Director of Magma Aviation UAE, shared her insights into the evolving air cargo landscape and how Magma is positioning itself for sustained growth in an ever-changing global market.

A shifting landscape within the global air cargo industry

Reflecting on the global cargo market’s trajectory since the pandemic, Keinytė noted significant fluctuations driven by external factors such as geopolitical events and shifts in available capacity. “During the pandemic, demand surged due to the lack of bellyhold capacity in passenger aircraft, leading to a wave of passenger-to-freighter conversions—particularly in the narrow-body segment,” she explained.

5 years from the surge of the global pandemic, global air travel is on the pace of recovering, belly capacity has returned impacting freighter demand. The cargo sector remains on an upward trend.

“According to official data, air cargo demand in 2024 has grown by 11.5% compared to 2023, with capacity up by 7.5%. However, while narrow-body freighters have increased in number, there remains a global shortage of wide-body capacity especially in light of growing e-commerce demands.” Keinyte cited.

Magma’s strategy for growth 

To adapt to these shifts, Magma Aviation prioritized its geographical positioning by expanding its regional offices at global air cargo hub spots.

“We’ve relocated our headquarters to Dublin, which is a strategic hub for aviation finance and leasing,” Keinytė said. “Additionally, we’ve expanded our global footprint by opening a UAE office in Dubai to better serve key regions like the Middle East, Africa, Southeast Asia, and the Indian subcontinent.”

Magma, known for its strength in wide-body operations, particularly with the Boeing 747, has also diversified its fleet by adding narrow-body freighters to help feed their wider network while they are actively exploring additions of Boeing 777s and other medium-wide-body aircraft into their growing fleet. This supports their broader vision of establishing the company as a leading global air cargo specialist.

Looking ahead to 2025 and beyond

Looking to the future, Keinytė forecasts moderate growth in 2025. “We expect around 5% growth in demand, though short-term geopolitical and economic headwinds could influence that. Still, we are preparing for the long-term strategy by expanding both wide- and narrow-body capacity and strengthening our commercial presence in key regions.”

Part of this strategy includes deeper collaborations with General Sales Agents (GSAs) and a continued focus on commercial and operational excellence. “We’re not just growing our fleet, but we’re also investing in strong partnerships and improving how we deliver value across the supply chain,” she concluded.