Global air cargo demand continues growth streak in January

Global air cargo demand grew for the 18th consecutive month in January, rising 3.2 per cent year-over-year, according to the International Air Transport Association (IATA).

Capacity increased by 6.8 per cent compared to January 2024, but the growth rate was slower than the double-digit peaks seen last year. Cargo yields declined 9.9 per cent from December, while load factors fell by 1.5 percentage points.

“External factors such as trade growth, declining fuel costs and expanding e-commerce remain positive for air cargo,” said Willie Walsh, IATA’s director general. However, he cautioned that potential tariff-driven trade policies from the U.S. could impact future market conditions.

“It is important to closely watch the evolution of market conditions at this time. In particular, the wild card is the potential for tariff-driven trade policies from the U.S. Trump Administration,” he said. “Fortunately, the air cargo industry is well practiced at dealing with shifts in the operating environment.”

Regionally, Latin American airlines posted the strongest demand growth at 11.2 per cent, while Middle Eastern carriers saw the steepest decline at 8.4 per cent. North American airlines recorded a 5.3 per cent increase in demand, while Asia-Pacific carriers saw a 7.5 per cent rise.

IATA noted that global goods trade expanded for a ninth consecutive month in December, and manufacturing output indicators point to continued economic resilience.