Global air cargo demand up in November: IATA

Global air cargo demand increased 5.5 per cent year over year in November 2025, supported by strong emerging market activity and seasonal shipping ahead of the year-end holidays, according to new data from the International Air Transport Association (IATA).

Demand, measured in cargo tonne-kilometres, rose 6.9 per cent for international operations, while total capacity increased 4.7 per cent year over year, or 6.5 per cent internationally.

“Air cargo demand grew 5.5 per cent year-on-year in November 2025, boosted by shippers prioritizing timely delivery in the lead-up to the year-end holiday season,” said Willie Walsh, IATA’s director general. “Strong emerging market demand and selective Middle Eastern growth more than made-up for softness in the Americas amid ongoing adjustment to the new U.S. tariff regime. Globally, the fourth quarter for air cargo was resilient as strategic re-routing of trade shaped performance across key markets. The strong end for 2025 bodes well for the air cargo industry as it enters the new year.”

IATA said global goods trade expanded 3.2 per cent year over year in October, while jet fuel prices climbed 5.9 per cent in November despite lower crude prices, driven by refinery disruptions, European Union restrictions on Russian-derived products and limited spare refining capacity.

Global manufacturing sentiment continued to improve, with the Purchasing Managers’ Index rising for a fourth consecutive month to 51.17 in November. New export orders edged higher to 49.87 but remained below the expansion threshold, reflecting continued caution linked to tariff uncertainty.

Regionally, Asia-Pacific airlines posted a 10.3 per cent increase in air cargo demand year-over-year, with capacity up 8.4 per cent. European carriers reported demand growth of 5.8 per cent and a 4.1 per cent increase in capacity.

Middle Eastern carriers saw demand rise 7.4 per cent, while capacity expanded 11 per cent. African airlines recorded the strongest regional performance, with demand up 15.6 per cent and capacity increasing 18.1 per cent.

North American carriers experienced a 1.6 per cent year-over-year decline in air cargo demand in November, with capacity down 2.3 per cent. Latin American and Caribbean carriers reported a 4.8 per cent drop in demand, the weakest performance among regions, alongside a three per cent decline in capacity.

IATA said air freight volumes increased across all major trade corridors in November 2025.