Air Cargo Demand up 5.6% in January 2026

“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.

Global Performance
- Demand (CTK): Up 5.6% year-on-year compared to January 2025.
- International operations grew even faster at +7.2%.
- Capacity (ACTK): Increased 3.6% year-on-year.
- International capacity rose +5.7%.
- Cargo Load Factor (CLF): Improved by 0.9 percentage points, reaching 45.1%.

Regional Highlights
Africa
Demand Growth (YoY): +18.2% , Capacity Growth: +6.5% | Strongest growth globally

Middle East
Demand Growth (YoY): +9.3%, Capacity Growth: +9.9% | Balanced demand & capacity

Asia-Pacific
Demand Growth (YoY): +7.8%, Capacity Growth: +3.3% | Continues as main growth engine

Europe
Demand Growth (YoY): +6.9%, Capacity Growth: +4.9% | Solid expansion

North America
Demand Growth (YoY): -0.5%, Capacity Growth: -0.2% | Only region with contraction

Latin America & Caribbean
Demand Growth (YoY): -2.0%, Capacity Growth: +2.3% | Weakest demand performance

Trade Lane Trends
- Africa–Asia: +41.6% (7 months of consecutive growth)
- Europe–Asia: +15.2% (35 months of consecutive growth)
- Middle East–Asia: +12.9% (11 months of consecutive growth)
- Within Asia: +14.3% (27 months of consecutive growth)
- Europe–North America: +3.8% (24 months of consecutive growth)
- Asia–North America: -0.6% (first decline after steady growth)

Operating Environment Factors
- Global goods trade: +4.9% YoY in Dec 2025
- Jet fuel prices: Down 6.5% YoY in Jan 2026
- Manufacturing sentiment: PMI rose to 51.8 (expansion territory, highest in 18 months)
- Export orders PMI: 49.9 (just below growth threshold, but best in 10 months)

Industry Outlook
Willie Walsh, IATA’s Director General, noted that while cargo demand had a robust start to 2026, challenges remain:
- US trade policy uncertainties
- Hostilities in the Middle East impacting supply chains
- Emphasis on digitalization and efficiency will be central at the upcoming World Cargo Symposium in Lima (10–12 March 2026)

Overall, January 2026 shows strong resilience in air cargo, with Africa and Asia-Pacific leading growth, while North and Latin America face headwinds.