Air cargo demand increased by 3.2% in January, according to the latest data released by the International Air Transport Association (Iata) on Thursday.
Iata reported that total demand, measured in cargo tonne-kilometres (CTK), rose by 3.2% compared to January 2024 levels (3.6% for international operations). Capacity increased by 6.8% and 7.3% for international operations.
Iata Director General Willie Walsh said January marked 18 consecutive months of growth for air cargo, albeit at a more moderate pace compared to the double-digit peaks in 2024.
“While external factors such as trade growth, declining fuel costs and expanding e-commerce remain positive for air cargo, it is important to closely watch the evolution of market conditions at this time,” Walsh said.
“In particular, the wild card is the potential for tariff-driven trade policies from the US Trump Administration. Fortunately, the air cargo industry is well practised at dealing with shifts in the operating environment.”
Iata noted several factors in the operating environment that influenced the sector:
• Year-on-year, industrial production rose 2.6% in December. Global goods trade grew for a ninth consecutive month, reporting a 3.3% increase in December.
• The Purchasing Managers’ Index (PMI) for global manufacturing output was above the 50 mark for January, indicating growth. At 50.62, this was the highest reading since July 2024. The PMI for new export orders rose to 49.37, remaining just shy of the 50 mark, which is the growth threshold.
• In January, consumer inflation in the US and Europe both rose by 0.1 percentage points to 3.0% and 2.8% respectively. Chinese consumer inflation rebounded to 0.5% in January, after progressively falling to 0.1% in the previous four months.
According to Iata, Latin American carriers saw the biggest increase of 11.2% in demand growth for air cargo in January.
This was followed by Asia-Pacific airlines, which saw 7.5% year-on-year, while capacity expanded 10.9%.
North American carriers recorded 5.3% demand growth and capacity increased by 7.5%. European carriers saw 1.3% demand growth and capacity rose 3.5% for the period.
Middle Eastern carriers saw an 8.4% drop in demand and a 1.2% decline in capacity, while African airlines experienced a 3.4% decrease in demand, with capacity rising 5.4%.
“Most international routes experienced growth in January. Airlines are benefiting from rising e-commerce demand in the US and Europe amid ongoing capacity limits in ocean shipping,” Iata said.
