Global air cargo demand increased by 7.7 per cent year-on-year in September 2026, outpacing the 2.7 per cent growth in available capacity, as stronger international trade and manufacturing activity supported shipment volumes, according to the International Air Transport Association (IATA).
Data released by IATA on Thursday showed that total demand, measured in cargo tonne-kilometres (CTK), rose by 7.7 per cent compared with September 2025, while international operations recorded stronger growth of 8.6 per cent.
Available cargo capacity, measured in available cargo tonne-kilometres (ACTK), increased by 2.7 per cent year-on-year, while capacity for international operations grew by 3.3 per cent.
The expansion in cargo demand came amid sustained growth in global trade and improved manufacturing indicators. Global trade increased by 3.6 per cent year-on-year in August, extending its growth streak to 42 consecutive months.
The Global Manufacturing Output Purchasing Managers’ Index (PMI) also rose by 0.7 points to 53.8 in August, while the New Export Orders Index increased by 0.5 points to 51.9. Both indicators reached their highest levels in five years, signalling stronger manufacturing and export activity.
However, rising fuel costs continued to weigh on the industry’s operating environment. Jet fuel prices increased by 17.5 per cent month-on-month in September and were 103.4 per cent higher than the corresponding period of 2025.
Marie Owens Thomsen, IATA’s Senior Vice President of Sustainability and Chief Economist, said stronger global trade and manufacturing activity supported cargo demand, while shipments linked to artificial intelligence contributed to another month of double-digit growth across the Pacific.
“Air cargo demand rose 7.7 per cent year-on-year in September, with growth across all regions. Stronger global trade and manufacturing provided a supportive backdrop, while AI-related shipments helped drive another month of double-digit growth across the Pacific,” she said.
She, however, warned that rising fuel prices were putting pressure on airline profitability, noting that jet fuel prices had more than doubled from a year earlier while cargo yields had not kept pace.
Regional performance showed that North American airlines recorded the strongest growth, with cargo demand increasing by 11.8 per cent year-on-year in September. Capacity in the region rose by just 0.8 per cent.
Asia-Pacific carriers followed with an 8.6 per cent increase in demand, supported by a 4.9 per cent expansion in capacity. The region accounted for 35.8 per cent of global air cargo traffic in 2025, making it the largest regional market.
Latin American and Caribbean airlines recorded a 6.7 per cent increase in demand, while capacity expanded by 7.6 per cent.
African airlines recorded a 4.7 per cent increase in cargo demand, against a 1.2 per cent decline in capacity. The continent accounted for 2.1 per cent of global air cargo traffic in 2025.
European carriers posted a 4.5 per cent increase in demand, even as capacity contracted by 1.6 per cent. Middle Eastern airlines recorded the weakest regional demand growth at 3.8 per cent, while capacity increased by 7.0 per cent.
Across major trade lanes, Asia–North America recorded the strongest growth, with cargo volumes increasing by 17.0 per cent year-on-year, extending its growth streak to eight consecutive months.
Cargo traffic within Asia increased by 10.2 per cent, marking 35 consecutive months of growth, while Europe–North America shipments rose by 9.3 per cent for a fifth consecutive month.
The Europe–Asia trade lane recorded 6.0 per cent growth, extending its expansion to 43 consecutive months, while Africa–Asia traffic increased by 2.6 per cent.
In contrast, Middle East-linked trade routes continued to experience contractions. Cargo traffic between Europe and the Middle East declined by 18.0 per cent, marking seven consecutive months of contraction, while the Middle East–Asia corridor fell by 10.2 per cent over the same period.
