The International Air Transport Association (IATA) reported on Monday that global air cargo demand increased 5.6% year-on-year in January 2026, measured in cargo tonne-kilometers. International operations outperformed the overall market, growing 7.2% over the same period.
Available cargo tonne-kilometers - a standard capacity measure - rose 3.6% compared with January 2025. International capacity was up 5.7% year-on-year.
Regional results showed marked divergence. Carriers in Africa, the Middle East, the Asia-Pacific and Europe all posted demand growth above the global average. By contrast, carriers across the Americas recorded aggregate contractions.
IATA Director General Willie Walsh said the air cargo market got off to a robust start in 2026. He cautioned, however, that evolving U.S. trade policies and the outbreak of hostilities in the Middle East will weigh on global supply chains in the coming months. Walsh noted these topics will be on the agenda at the World Cargo Symposium in Lima, Peru, scheduled for March 10-12, 2026.
Broader trade and economic indicators included in IATA's release showed global goods trade grew 4.9% year-on-year in December 2025. Jet fuel prices fell 6.5% year-on-year in January. The global Purchasing Managers' Index (PMI) rose to 51.8 in January, its highest level in over a year and a half, while the PMI for new export orders climbed to 49.9.
Regional detail:
- Asia-Pacific: Airlines recorded 7.8% year-on-year growth in demand in January, with capacity up 3.3% year-on-year.
- North America: Carriers saw a 0.5% year-on-year decline in demand, and capacity decreased 0.2% year-on-year - the only region to show a capacity contraction.
- Europe: Airlines posted a 6.9% year-on-year increase in demand, with capacity rising 4.9% year-on-year.
- Middle East: Carriers reported a 9.3% year-on-year increase in demand, and capacity grew 9.9% year-on-year - the strongest capacity rise among regions.
- Latin America and Caribbean: Demand fell 2.0% year-on-year, the weakest regional performance, while capacity increased 2.3% year-on-year.
- Africa: Airlines recorded 18.2% year-on-year growth in demand, the strongest demand gain of all regions, with capacity up 6.5% year-on-year.
Air freight volumes by corridor also showed uneven movement. The Africa-Asia route grew 41.6% year-on-year, marking a seventh straight month of expansion on that lane. The Asia-North America route slipped 0.6%.
Other corridors with gains included Europe-Asia, which increased 15.2% and extended its growth streak to 35 consecutive months, and Europe-Middle East, which rose 10.2%. Europe-North America increased 3.8%, marking 24 consecutive months of growth on that route. The Middle East-Asia corridor expanded 12.9%, extending growth to 11 consecutive months.
Intra-regional volumes were also positive in several markets. Within Asia, volumes rose 14.3%, the 27th consecutive month of growth. Within Europe, volumes increased 1.0%, representing two consecutive months of expansion.
The January data depict a market with solid aggregate demand and expanding capacity, yet with notable regional contrasts and corridor-level shifts. Growth concentrated in Africa, the Middle East, Asia-Pacific and Europe contrasts with softness across the Americas, while risks related to trade policy and geopolitical developments remain on IATA's radar ahead of the World Cargo Symposium in March.