Air Cargo Demand Maintains Strong Momentum, up 5.5% in November 2025

The International Air Transport Association (IATA) released data for November 2025 global air cargo markets.

Global Growth:
- Demand (CTK) rose 5.5% year-on-year in November 2025.
- International operations grew faster at +6.9%.
- Capacity (ACTK) increased 4.7% globally (+6.5% for international).
- Cargo load factor reached 49.1%, slightly higher than last year.

Regional Performance:
- Africa: +15.6% demand (strongest globally), capacity +18.1%.
- Asia-Pacific: +10.3% demand, intra-Asia trade lanes surged +15.8%.
- Europe: +5.8% demand, capacity +4.1%.
- Middle East: +7.4% demand, but capacity outpaced at +11.0%.
- North America: -1.6% demand, reflecting tariff regime adjustments.
- Latin America & Caribbean: -4.8% demand, weakest globally.

Trade Lane Trends:
- Europe–Asia: +11.7% (33 months of consecutive growth).
- Within Asia: +15.8% (25 months of growth).
- North America–Europe: +5.0% (22 months of growth).
- Within Europe: -4.9% (four months of decline).

Market Drivers:
- Shippers prioritized timely delivery ahead of holidays.
- Emerging market demand and Middle Eastern growth offset U.S. softness.
- Jet fuel prices rose 5.9% despite falling crude, due to refinery disruptions and EU restrictions.
- Global PMI climbed to 51.17, showing manufacturing optimism, though new export orders remained cautious.

👉 In short, November 2025 was a resilient month for global air cargo, with Asia and Africa leading growth, while North and Latin America lagged. Strategic re-routing and strong intra-Asia trade lanes kept momentum high heading into 2026.