Global air cargo demand rises 5.5% on year-end logistics rush
Total air cargo demand, measured in cargo tonne-kilometres (CTK), increased by 5.5% compared with November 2024, with international operations recording stronger growth of 6.9%. Available cargo capacity rose 4.7% year-on-year, including a 6.5% increase in international capacity.
"Air cargo demand grew 5.5% year-on-year in November 2025, boosted by shippers prioritising timely delivery in the lead-up to the year-end holiday season. Strong emerging market demand and selective Middle Eastern growth more than made up for softness in the Americas amid ongoing adjustment to the new US 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,” said Willie Walsh, Iata’s director general.
Operating environment factors
Several developments in the global operating environment shaped air cargo performance during the month:
• Global goods trade expanded by 3.2% year-on-year in October.
• Jet fuel prices rose 5.9% in November despite falling crude oil prices, driven by refinery disruptions, EU restrictions on Russian-derived products, and limited spare refining capacity.
• Global manufacturing sentiment strengthened, with the Purchasing Managers’ Index (PMI) rising for the fourth consecutive month to 51.17. New export orders improved slightly to 49.87, but remained below the 50-point expansion threshold.
Regional cargo performance
• Asia-Pacific airlines recorded a 10.3% year-on-year increase in air cargo demand in November, with capacity rising by 8.4%.
• European carriers saw demand increase by 5.8%, while capacity grew by 4.1%.
• Middle Eastern airlines posted a 7.4% rise in demand, alongside an 11.0% increase in capacity.
• North American carriers recorded a 1.6% decline in air cargo demand, with capacity falling by 2.3%.
• Latin American and Caribbean airlines delivered the weakest regional performance, with demand down 4.8% year-on-year and capacity decreasing by 3.0%.
• African airlines were the strongest performers globally, recording a 15.6% year-on-year increase in air cargo demand in November. Capacity expanded by 18.1% over the same period.
Trade lanes show broad-based growth
Air freight volumes increased across most major global trade corridors in November 2025.
Strong growth was recorded on the Europe–Asia (+11.7%), Middle East–Asia (+11.1%), and within-Asia (+15.8%) trade lanes. North America–Europe volumes rose 5.0%, marking the 22nd consecutive month of growth on that corridor.
Africa–Asia traffic increased by 9.5% year-on-year, extending its growth streak to five consecutive months, although the route continues to represent a relatively small share of global air cargo volumes.
Within Europe was the only major trade lane to record a decline, with volumes falling 4.9% for the fourth consecutive month.