Global air cargo demand rises 2.2% in May despite trade disruptions, says IATA

IATA reports global air cargo demand rose 2.2% year-on-year in May 2025, with international demand up 3.0%. Capacity also increased by 2.0%, showing resilience despite challenges from shifting U.S. trade policies.

Key Highlights

• Asia-Pacific led growth with an 8.3% increase in demand.
• North America saw the largest decline, down 5.8%, driven by a 10.7% drop in Asia–North America volumes.
• Europe (+1.6%), the Middle East (+3.6%), and Latin America (+3.1%) saw moderate growth.
• Africa recorded a 2.1% decline in cargo demand.

Trade Lane Trends

• Europe–Asia: +13.4% (27 months of growth)
• Middle East–Asia: +10.8% (3 months of growth)
• Within Asia: +9.1% (19 months of growth)
• North America–Europe: +8.2% (16 months of growth)
• Asia–North America: -10.7%
• Africa–Asia: -14.6%

Market Factors

• Jet fuel prices were 18.8% lower than a year ago.
• Air cargo outpaced global goods trade growth (6.8% vs 3.8% in April).
• Global manufacturing remained weak (PMI at 49.1), with export orders under pressure (48).

IATA Director General Willie Walsh highlighted the sector’s flexibility amid policy shifts, crediting its ability to reroute and adjust deliveries to maintain supply chain continuity.