Air Cargo Demand Grows 3.9% in July: IATA Data

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

Global Overview
- Total demand (CTK): +3.9% year-on-year.
- International demand: +4.7%.
- Capacity (ACTK): +1.7% overall.
- Cargo load factor (CLF): 46.0%, up 1 percentage point.
- Trend: Dedicated freighters gained share as belly-hold traffic declined, reflecting demand for larger or specialist shipments.

Regional Performance
- Asia-Pacific: Demand +4.1%, capacity +3.0%, load factor 49.5%.
- North America: Strongest growth at +4.8%, capacity down -1.5%, load factor 41.2%.
- Europe: Demand +4.4%, capacity +1.3%, load factor 51.1% (highest globally).
- Middle East: Demand +1.7%, capacity +4.0%, load factor 44.1%.
- Latin America & Caribbean: Demand +4.1%, capacity +7.0%, load factor 32.3%.
- Africa: Demand +1.1%, capacity +4.1%, load factor 45.8%.

Trade Lane Trends
- Asia–North America: +9.2%, six months of consecutive growth.
- Europe–Asia: +3.1%, 41 months of continuous growth.
- Europe–North America: +2.1%, steady growth.
- Within Asia: +6.1%, 33 months of growth.
- Gulf-linked corridors: Still contracting (Europe–Middle East -16.1%, Middle East–Asia -14.1%) due to regional conflict.

Operating Environment
- Global trade: +7.5% year-on-year.
- Jet fuel prices: +12.2% month-on-month, +56.9% year-on-year.
- Manufacturing PMI: Slight dip to 52.7, but export orders index rose to 50.0.
- Outlook: Broadly positive, supported by trade and manufacturing, though fuel costs and geopolitical tensions remain risks.

Marie Owens Thomsen (IATA Chief Economist) emphasized that despite challenges, the cargo sector is showing resilience, with freighters playing a bigger role in sustaining growth.