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Total demand for air cargo measured in cargo ton kilometers rose by 3.2% in Jan. 2025 compared to the same period last year, according to the International Air Transport Association
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Measured in available cargo ton kilometers, capacity increased by 6.8% for the same period, with growth pegged at 7.3% for global operations
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Yields, while still above January 2024 levels, saw a 9.9% decline from December as cargo load factors also declined by an average of 1.5 percentage points
Total demand for air cargo measured in cargo ton kilometers (CTK) rose by 3.2% in Jan. 2025 compared to the same period last year, according to the International Air Transport Association (IATA).
This was the 18th consecutive month of growth for global air cargo.
READ: 2024 a banner year for global air cargo – IATA
Measured in available cargo ton kilometers (ACTK), capacity increased by 6.8% for the same period, with growth pegged at 7.3% for global operations.
Willie Walsh, IATA director general, said that while there were indeed 18 consecutive months of growth, “the 3.2% year-on-year growth is a moderation from double-digit peaks in 2024.”
Similarly, Walsh added, “yields, while still above January 2024 levels, saw a 9.9% decline from December as cargo load factors also declined by an average of 1.5 percentage points.”
He said it was important to closely monitor the evolution of market conditions at this time, despite such external factors as trade growth, declining fuel costs, and expanding e-commerce.
The wildcard is the potential for tariff-driven trade policies from the US Trump administration, according to the IATA executive.
“Fortunately, the air cargo industry is well practiced at dealing with shifts in the operating environment,” said Walsh.
IATA notes a number of factors in the current operating environment, namely:
- Year-on-year industrial production rose 2.6% last December. Global goods trade rose for a 9th consecutive month, with a 3.3% hike in December;
- The Purchasing Managers Index for global manufacturing output was above the 50-mark for January, indicating growth. The 50.62 reading was the highest since July 2024, while new export orders rose 49.37, a shade below the growth threshold of 50;
- Consumer inflation in the US and Europe rose 0.1 percentage point to 3.0% and 2.8%, respectively. China’s consumer inflation bounced back to 0.5% after progressively dropping to 0.1% in the past four months.
Meanwhile, regional performance for January was a mixed bag, with Asia-Pacific airlines experiencing 7.5% year-on-year demand growth for air cargo in January, and capacity rising 10.9% year-on-year.
North American carriers had 5.3% year-on-year air cargo demand growth for January, with capacity up by 7.5% year-on-year. European carriers saw 1.3% year-on-year growth while capacity rose 3.5% year-on-year.
For Middle Eastern carriers, year-on-year demand fell 8.4%, the slowest among the regions. Capacity was also down 1.2% year-on-year.
Latin American carriers experienced 11.2% year-on-year increase in demand growth, the strongest among the regions, while capacity rose 10.6% year-on-year. African airlines saw a 3.4% decrease year-on-year, while capacity rose 5.4% year-on-year.
Most global routes experienced growth in January. Airlines are benefiting from rising e-commerce demand in the US and Europe amid the current capacity limits in ocean shipping, said IATA.
