Air Cargo Demand up 6.0% in May: IATA Data

The International Air Transport Association (IATA) released data for May 2026 global air cargo markets:

Global Overview
- Demand (CTK): +6.0% year-on-year (international +6.5%)
- Capacity (ACTK): +1.9% year-on-year (international +2.8%)
- Load Factor: Up 1.8 percentage points to 46.3%

Regional Performance
- 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.
- 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.
- 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.
➡️ Africa posted the strongest growth, while the Middle East saw the sharpest contraction due to war-related disruptions.

Trade Lane Trends
- Asia–North America: +19.9% (4 months of growth)
- Africa–Asia: +14.1% (11 months of growth)
- Europe–Asia: +10.0% (39 months of growth)
- Within Europe: +11.5% (4 months of growth)
- Europe–Middle East: -19.8% (3 months of contraction)
- Middle East–Asia: -16.5% (3 months of contraction)

Operating Environment
- Global trade: +5.0% YoY (25 consecutive months of growth)
- Jet fuel prices: -16.3% month-on-month, but still +93.5% vs. May 2025
- Manufacturing PMI: 53.5 (expansion)
- Export Orders Index: 49.6 (contraction, below 50)

Industry Outlook
Willie Walsh (IATA DG) noted that despite Middle East uncertainties, strong demand, higher load factors, and yield growth are helping airlines offset fuel costs. The overall tone is cautiously optimistic for the rest of 2026, supported by trade and manufacturing resilience.