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International air cargo demand in Asia Pacific showed solid growth in February 2026 buoyed by continued strength in e-commerce and demand for intermediate goods, based on preliminary figures from the Association of Asia-Pacific Airlines
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Despite traditional factory closures associated with the festive season in February, there was still an 8.7% year-on-year increase in international air cargo demand to 6.053 billion freight tonne kilometers
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Increased leisure travel supported the 9% increase in international passengers to 33 million, with demand rising 8.8%
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AAPA director general Subhas Menon said the escalation in geopolitical tensions in the Middle East region at the end of February introduced greater uncertainty to the operating environment, with the positive outlook for the airline industry to be clouded by the evolving geopolitical situation
International air cargo demand in Asia Pacific showed solid growth in February 2026 buoyed by continued strength in e-commerce and demand for intermediate goods, according to preliminary figures released by the Association of Asia Pacific Airlines (AAPA).
Despite traditional factory closures associated with the festive season in February, there was still an 8.7% year-on-year increase in international air cargo demand to 6.053 billion freight tonne kilometers (FTK) in February 2026 from 5.567 million FTK in February 2025, AAPA said in a statement.
Trade activity remained resilient, reflecting demand for consumer, intermediate and investment goods, AAPA noted.
It added that demand growth outpaced a corresponding 8.3% increase in offered freight capacity, resulting in a 0.3 percentage point rise in the average international freight load factor to 58.2%.
International air passenger demand also showed strong growth in February 2026, supported by increased leisure travel during the Lunar New Year festive period.
In February, the region’s carriers saw a 9% year-on-year increase in international passengers carried, reaching an aggregate total of 33 million. Demand, as measured in revenue passenger kilometres (RPK), rose by 8.8%, while available seat capacity expanded by 8% year-on-year, leading to a 0.7 percentage point increase in the average international passenger load factor to 83.4% for the month.
“Against a backdrop of steady global economic growth, combined figures for the first two months of the year showed a firm 6.3% increase in the number of international passengers carried by the region’s airlines to 69 million, supported by strong travel demand across Asian Economies,” AAPA director general Subhas Menon said.
“Meanwhile, positive business confidence, alongside rising orders for goods manufactured in Asia, supported growth in international air cargo demand, with volumes rising by a solid 7.6% during the first two months of 2026, compared to the same period last year,” he added.
Menon noted, however, that the escalation in geopolitical tensions in the Middle East region at the end of February has introduced greater uncertainty to the operating environment.
“Asian airlines are facing increased operational challenges, as the rise in conflicts has reduced the availability of airspace, particularly along key Asia – Europe corridors, effectively constraining capacity on these routes and limiting network flexibility for affected carriers.”
“The sharp increase in jet fuel prices from an average of US$90 per barrel in the first two months of the year to an average of US$150 per barrel in the first three weeks of March, has left little time for airlines to adjust, while longer flight routings have increased operating costs, placing additional pressure on already thin profit margins,” Menon said.
Looking ahead, he said the broadly positive outlook for the airline industry will continue to be clouded by the evolving geopolitical situation.
“Prolonged conflicts over the Middle East may increase inflationary pressures and affect business and consumer sentiment on both passenger and cargo markets. Close coordination between governments and industry stakeholders is critical to ensure the continued safe and efficient operation of air services, while maintaining global connectivity,” Menon said.
