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Air cargo delivered strong performance in 2025, IATA reports

Global air cargo closed 2025 with steady growth, as carriers adapted to shifting trade patterns, tariff uncertainty and evolving supply chain demands, according to full-year and December data released by the International Air Transport Association (IATA).

Full-year cargo demand, measured in cargo tonne-kilometres (CTK), increased by 3.4% compared with 2024, rising to 4.2% for international operations. Capacity growth remained closely aligned, with available cargo tonne-kilometres (ACTK) up 3.7% year-on-year, or 5.1% internationally, signalling a more balanced market than in recent years.

December performance reinforced the year’s positive trajectory. Global demand finished the month 4.3% above December 2024 levels, while international demand rose 5.5%. Capacity also expanded, up 4.5% globally and 6.4% for international operations.

While volumes grew, yields continued their gradual normalisation. IATA reported that full-year yields declined 1.5% year-on-year — the smallest annual drop in three years — as supply and demand moved closer to equilibrium. Despite competitive pressures, yields remain 37.2% above pre-pandemic 2019 levels.

Willie Walsh, IATA’s director general, said: “Air cargo delivered a strong performance in 2025, with demand up 3.4% year-on-year. Global e-commerce strength drove volumes, even as trading relationships with the US faced rising tariffs, the removal of de minimis tariff exemptions, and continuing policy uncertainty.

“Air cargo rose to the occasion. It adapted quickly to support global businesses and supply chains as they front-loaded product deliveries ahead of tariff impositions and adjusted to rising demand within Asia and between Asia and Europe as US-Asia trade stagnated.”

Walsh added: “Growth in 2026 is expected to moderate slightly to 2.4%, in line with historical trends. We can expect that demand will continue to be shaped by trade and geopolitical developments.

“Whatever trading patterns emerge, we can be confident that reliance on air cargo to keep global supply chains running will remain, with carriers responding to the challenge by deploying capacity and designing their networks for optimum flexibility.”

When looking at regional performance, Asia-Pacific airlines saw 8.4% year-on-year demand growth for air cargo in 2025, the strongest among the regions. Capacity increased by 7.4% year-on-year. December year-on-year demand increased 9.4% and capacity increased 8.3%.

North American carriers saw a 1.3% year-on-year decline in demand growth for air cargo in 2025, the only regional decline and the weakest performance globally. Capacity decreased by 1.1% year-on-year. December year-on-year demand decreased 2.2% and capacity decreased 2.6%.

European carriers saw 2.9% year-on-year demand growth for air cargo in 2025. Capacity increased by 3.1% year-on-year. December year-on-year demand increased 4.9% and capacity increased 3.9%.

Middle Eastern carriers saw 0.3% year-on-year demand growth for air cargo in 2025. Capacity increased by 4.5% year-on-year. December year-on-year demand increased 4.2% and capacity increased 10.6%.

Latin American and Caribbean carriers saw 2.3% year-on-year demand growth for air cargo in 2025. Capacity increased by 4.5% year-on-year. December year-on-year demand decreased by 4.1%, the lowest performance of all regions. Capacity increased 4.5%.

African airlines saw 6.0% year-on-year demand growth for air cargo in 2025. Capacity increased by 7.8% year-on-year. December year-on-year demand increased by 10.1%, the highest of all regions, and capacity increased 9.8%.

READ MORE NEWS: IATA warns persistent supply chain bottlenecks will restrain airline growth

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