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The International Air Transport Association reported global air cargo demand grew 5.6% year-on-year in January 2026 with volumes outpacing capacity growth
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International operations jumped 7.2% YoY
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Capacity increased 3.6%
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Africa posted the strongest regional demand growth at 18.2%; the Middle East, 9.3%; Asia-Pacific, 7.8%; Europe, 6.9%
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North America saw a 0.5% decline in demand; Latin America and the Caribbean down 2.0%
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Global goods trade expanded by 4.9% in December 2025; jet fuel prices fell by 6.5% YoY in January
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Global PMI rose to 51.8, signaling manufacturing expansion
Global air cargo demand rose 5.6% year on year in January 2026, marking a robust start to the year as volumes outpaced capacity growth, according to data from the International Air Transport Association (IATA).
Total demand, measured in cargo tonne-kilometers, increased 5.6% compared with January 2025 levels, while international operations expanded by 7.2%.
Capacity, measured in available cargo tonne-kilometers, grew 3.6% year on year (YoY), with international capacity up 5.7%.
“The demand for air cargo had a robust start to 2026, recording 5.6% year-on-year growth in January. At the regional level, the story is more polarized. Carriers in Africa, Middle East, Asia-Pacific, and Europe all reported faster growth than the global average. In contrast, carriers in the Americas reported aggregate contractions,” said Willie Walsh, IATA’s director general.
Regional data showed Africa posting the strongest performance, with demand surging 18.2% YoY and capacity rising 6.5%.
Middle Eastern carriers recorded a 9.3% increase in demand, alongside a 9.9% expansion in capacity — the fastest capacity growth among all regions.
Asia-Pacific airlines, the primary engine of industry expansion, reported a 7.8% increase in demand, while capacity rose 3.3%. European carriers logged a 6.9% rise in demand and a 4.9% gain in capacity.
In contrast, North American carriers posted a 0.5% decline in demand and were the only region to record a contraction in capacity, down 0.2%. Latin American and Caribbean airlines reported the weakest demand performance, down 2.0%, even as capacity expanded 2.3%.
Air freight volumes increased across most major trade corridors in January, with the exception of the Asia-North America route area.
READ: Global air cargo demand up 3.4% in 2025, capacity grows 3.7%
IATA said several operating environment supported demand. Global goods trade grew 4.9% YoY in December 2025, while jet fuel prices declined 6.5% YoY in January.
Manufacturing sentiment also strengthened, with the global Purchasing Managers’ Index (PMI) rising to 51.8, above the 50-point expansion threshold and its highest level in over 18 months. The PMI for new export orders improved to 49.9, just below expansion territory, but the highest in 10 months.
“The resilience of air cargo will continue to be tested in the coming months. In addition to the long-running uncertainties of evolving US trade policies, the outbreak of hostilities in the Middle East will both weigh heavy on global supply chains. Addressing these topics will add extra importance to discussions at the upcoming World Cargo Symposium in Lima, Peru (March 10-12, 2026), where strengthening air cargo’s adaptability and efficiency through digitalization and other measures will be a key focus,” Walsh said.
