Global air cargo demand rose 8.5 per cent in June compared with a year earlier, supported by shipments of high-value technology products and urgent goods, even as wider export orders remained subdued. 

The latest International Air Transport Association (IATA) figures showed that international cargo demand increased by an even stronger 9.6 per cent. 

Meanwhile, global cargo capacity, measured in available cargo tonne-kilometres, grew by 4.4 per cent year-on-year, while international capacity increased by 4.9 per cent. 

As demand expanded almost twice as quickly as available capacity, the global cargo load factor rose by 1.7 percentage points to 46.9 per cent. 

IATA director general Willie Walsh said that “air cargo demand grew 8.5 per cent year-on-year in June”, adding that “while North America was the strongest contributor to growth, demand in all regions was in positive territory compared to last year”. 

The rise also comfortably exceeded the 5.2 per cent increase in global trade, suggesting that air freight benefited from specific, time-sensitive shipments rather than a broad acceleration in international exports. 

Global manufacturing activity remained supportive but eased slightly during the month. The Manufacturing Output Purchasing Managers’ Index fell by 0.5 points to 53, remaining above the 50-point level that separates expansion from contraction. 

However, the New Export Orders Index stood at 49.4 and remained below 50 for the fourth consecutive month, pointing to continued weakness in broader export demand. 

At the same time, jet fuel prices fell by 20 per cent from May, offering some relief to airlines, although they remained 45.8 per cent higher than a year earlier. 

Walsh said that “demand growth outpaced capacity at the global level and in all regions except Latin America and the Caribbean”, while it also “grew faster than global trade, supported by high-value technology products, and urgent shipments”. 

North American airlines delivered the strongest regional performance, with cargo demand rising 13.1 per cent year-on-year. Capacity increased by a more modest 6.2 per cent, lifting the region’s cargo load factor by 2.5 percentage points to 40.7 per cent. 

Asia-Pacific carriers, which account for the largest share of the global air freight market, recorded a 7.9 per cent increase in demand and a 4.3 per cent rise in capacity. Their load factor climbed by 1.8 percentage points to 51.8 per cent, the highest among all regions. 

European airlines reported a 6.9 per cent increase in cargo demand, while capacity expanded by 3.7 per cent. Consequently, the region’s load factor rose by 1.5 percentage points to 50.5 per cent. 

Middle Eastern carriers recorded demand growth of 5.6 per cent, compared with a 2.5 per cent increase in capacity, lifting their load factor by 1.4 percentage points to 46.5 per cent. 

However, the result was flattered by comparison with a particularly weak June 2025, when military conflict and operational disruption weighed heavily on air freight activity across the region. 

African airlines saw demand rise by 4.7 per cent despite a 7.1 per cent reduction in capacity. This pushed the region’s cargo load factor 5.4 percentage points higher to 48.1 per cent, the largest improvement globally. 

By contrast, Latin American and Caribbean carriers recorded the weakest demand growth at 3.5 per cent. Capacity increased by 9.8 per cent, causing the load factor to fall by 2.1 percentage points to 33.9 per cent. 

Performance also varied sharply across the major trade corridors. The Asia-North America route, which accounts for 23.5 per cent of global cargo traffic, recorded the strongest growth at 14.7 per cent, extending its run of expansion to five consecutive months. 

Cargo traffic within Asia increased by 7.2 per cent, marking 32 consecutive months of growth, while the Europe-Asia corridor expanded by 7.1 per cent for its 40th straight month of growth. Africa-Asia traffic rose by 0.9 per cent, extending its positive run to 12 months. 

Meanwhile, Europe-North America cargo traffic was unchanged from a year earlier. 

Gulf-linked routes remained under severe pressure from the Middle East conflict. Demand between Europe and the Middle East fell by 41.1 per cent, while Middle East-Asia traffic declined by 4.1 per cent. Both corridors have now contracted for four consecutive months. 

Despite the strong headline growth, Walsh said that “while this all gives strong reasons for optimism in the second half of 2026, risks remain, continuing hostilities in the Middle East and a renewed focus on tariffs by the US among them”.