IATA released its global air cargo market data for January 2026, with the following key points:
Total demand (in freight tonnes-kilometers) increased by 5.6% compared to January 2025 (international operations +7.2%).
Capacity (in available freight tonnes-kilometers) increased by 3.6% compared to January 2025 (international operations +5.7%).
"Air cargo demand is strong at the start of 2026, with a 5.6% year-over-year increase in January. At the regional level, the situation is more polarized. Operators in Africa, the Middle East, Asia Pacific, and Europe all reported growth rates faster than the global average. In contrast, airlines in the Americas reported an overall contraction," said Willie Walsh, Director General of IATA.
"The resilience of air cargo will continue to be tested in the coming months. In addition to the long-term uncertainty stemming from shifting US trade policy, the outbreak of hostilities in the Middle East will put significant pressure on global supply chains."
Several factors to watch in the operating environment include a 4.9% year-on-year increase in global merchandise trade in December 2025, a 6.5% year-on-year decrease in jet fuel prices in January, and improved global manufacturing confidence in the same month.
The latter pushed the global Purchasing Managers' Index (PMI) above the 50-point expansion threshold to 51.8, the highest level in a year and a half.
The new export orders PMI rose to 49.9, slightly below the growth threshold, but the highest in 10 months, reflecting a mixed but cautiously optimistic industrial growth performance.
