Total global air cargo demand, measured in cargo tonne-kilometres (CTK), increased by 6.0% in May this year, compared to May 2025 levels (6.5% for international operations), according to International Air Transport Association (IATA) data.
Capacity, measured in available cargo tonne-kilometres (ACTK), increased by 1.9% compared to May 2025 (2.8% for international operations).
Carriers in the Middle East, however, reported a combined contraction of 8.9% year-on-year as war-related impacts continued.
“Air cargo demand grew 6% year-on-year in May, with Africa, Asia-Pacific, Europe, and North American regions all reporting above trend growth. May’s strong performance coupled with macro-economic factors give cautious optimism for air cargo’s prospects over the remainder of the year. Trade and manufacturing output are both growing. Airlines have adapted operations to align with shifting demand patterns and supply chain needs. Meanwhile, yield growth and higher load factors are helping to recoup higher fuel costs. It’s still a tough year, particularly as Middle East uncertainties weigh heavily on parts of the industry, but robust demand and airline resilience are clear,” said Willie Walsh, IATA’s Director General.
Several factors in the operating environment should be noted:
* Global trade increased by 5.0% year-on-year, extending 25 months of consecutive annual growth.
* Jet fuel prices fell by 16.3% month-on-month in May but remained 93.5% above year-earlier levels.
Global manufacturing activity remained supportive in May, but export orders weakened. The Global Manufacturing Output Purchasing Managers’ Index (PMI) rose to 53.5, while the New Export Orders Index stayed below the 50-mark at 49.6, suggesting air cargo growth was supported by selected trade flows rather than a broad-based rise in global exports.
May regional performance
* Middle Eastern carriers saw an 8.9% year-on-year decrease in demand for air cargo in May, the weakest performance of all regions. Capacity decreased by 9.2% year-on-year.
* Asia-Pacific airlines saw an 8.0% year-on-year growth in air cargo demand in May. Capacity increased by 5.1% year-on-year.
* North American carriers saw a 10.5% year-on-year increase in air cargo demand in May. Capacity increased by 2.4% year-on-year.
* European carriers saw a 6.7% year-on-year increase in demand for air cargo in May. Capacity increased by 2.2% year-on-year.
* Latin American and Caribbean carriers saw a 1.9% year-on-year increase in demand for air cargo in May. Capacity increased by 5.6% year-on-year.
* African airlines saw a 13.3% year-on-year increase in demand for air cargo in May, the strongest performance of all regions. Capacity increased by 1.3% year-on-year.
Trade lane growth
Air cargo performance diverged across major trade lanes in May. Asia-North America led growth followed by Africa-Asia, intra-Europe and Europe-Asia. In contrast, Gulf-linked corridors were still severely disrupted by the ongoing conflict in the Middle East.