Global air cargo demand strengthened at the start of 2026, with volumes rising 5.6% year‑on‑year in January as improving manufacturing sentiment and lower fuel prices supported the market, according to the International Air Transport Association (IATA).
Total demand, measured in cargo tonne‑kilometers (CTK), increased 5.6% from January 2025, while international CTKs grew 7.2%. Capacity rose 3.6% overall and 5.7% for international operations.
"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.
He noted that the strong start to the year does not diminish the headwinds facing the industry, with geopolitical risks and policy uncertainty expected to weigh on supply chains in the months ahead.
"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," Walsh added.
Operating environment improves
IATA highlighted several supportive indicators in January including global goods trade that rose 4.9% year‑on‑year in December 2025; jet fuel prices that fell 6.5% year‑on‑year in January; a stronger global manufacturing sentiment, with the Purchasing Managers' Index (PMI) climbing to 51.8—its highest level in more than 18 months.
The PMI for new export orders reached 49.9, the strongest reading in 10 months, signaling cautiously improving industrial activity.
Regional performance
Regional performance in January was mixed, with Africa and the Middle East leading global growth while carriers in the Americas lagged behind, and Asia‑Pacific and Europe also posting solid gains.
Asia‑Pacific carriers continued to lead global growth, posting a 7.8% year‑on‑year increase in demand, supported by strong regional manufacturing and resilient cross‑border e‑commerce flows. Capacity in the region rose 3.3%.
North American airlines recorded a 0.5% decline in demand, the only region to contract in January. Capacity also slipped 0.2%, making it the only region with a year‑on‑year decrease.
European carriers saw demand rise 6.9%, with capacity up 4.9%, reflecting steady export activity and improving industrial sentiment.
Middle Eastern airlines posted a 9.3% increase in demand, while capacity surged 9.9%—the strongest capacity growth of any region—as carriers continued to benefit from expanded network connectivity and resilient flows between Asia, Europe and Africa.
Latin American and Caribbean carriers recorded a 2.0% decline in demand, the weakest performance globally, though capacity increased 2.3%.
African airlines delivered the strongest growth of all regions, with demand up 18.2% year‑on‑year and capacity rising 6.5%, supported by expanding trade links with Asia and the Middle East.
For January, IATA said air freight volumes increased across most major trade corridors in January, with the exception of the Asia–North America route, which saw a decline.
