Air Cargo Demand Rises 5.5% in November 2025

Global Air Cargo Demand Up 5.5% in November 2025: IATA Data

The International Air Transport Association (IATA) has released data for global air cargo markets for November 2025, indicating continued growth in demand alongside moderate capacity expansion.

Key highlights for November 2025:

• Total demand, measured in cargo tonne-kilometres (CTK), increased by 5.5% compared with November 2024 (+6.9% for international operations).

• Total capacity, measured in available cargo tonne-kilometres (ACTK), rose by 4.7% year-on-year (+6.5% for international operations).

Commenting on the results, Willie Walsh, Director General of IATA, said that air cargo demand benefited from shippers prioritising timely delivery ahead of the year-end holiday period. He noted that emerging-market demand and growth in parts of the Middle East offset weaker performance in the Americas, which is still adjusting to the new US tariff regime. Strategic trade re-routing supported overall performance during the fourth quarter, providing a stable close to 2025 for the air cargo sector.

Operating environment

Several factors influenced air cargo performance during the period:

• Global goods trade expanded by 2% year-on-year in October.

• Jet fuel prices increased 5.9% in November, despite lower crude prices, due to refinery disruptions, EU restrictions on Russian-derived products, and limited spare refining capacity.

• Global manufacturing sentiment improved, with the PMI rising for the fourth consecutive month to 51.17. New export orders edged up to 49.87, remaining below the expansion threshold amid ongoing tariff-related uncertainty.

Regional market performance

• Asia-Pacific airlines recorded 10.3% growth in cargo demand, with capacity up 8.4%.

• North American carriers saw demand decline by 1.6% and capacity fall by 2.3%.

• European airlines reported demand growth of 5.8%, with capacity increasing 4.1%.

• Middle Eastern carriers posted 7.4% growth in demand, alongside an 11.0% rise in capacity.

• Latin America and the Caribbean experienced a 4.8% decline in demand, with capacity down 3.0%.

• African airlines saw demand increase by 15.6%, with capacity rising 18.1%.

Trade lane trends

Air freight volumes increased across most major trade corridors in November 2025. Notable developments included continued growth on Europe–Asia, Middle East–Asia, intra-Asia, and North America–Europe routes, while within-Europe traffic remained under pressure for a fourth consecutive month.

Overall, the November data reflect steady demand growth, supported by trade adjustments, manufacturing activity, and seasonal shipping requirements, as the industry moved toward the end of 2025.