Air cargo demand saw a 3.2% increase in January 2025, according to the latest data from the International Air Transport Association (IATA), released on Thursday.
The growth, measured in cargo tonne-kilometres (CTK), marked an increase compared to January 2024 levels, with international operations seeing a slightly higher rise of 3.6%. Capacity grew by 6.8% overall, with a 7.3% increase for international operations.
IATA’s Director General, Willie Walsh, highlighted that January marked 18 consecutive months of growth in the air cargo sector, though at a more moderate pace compared to the double-digit growth seen earlier in 2024.
“External factors such as trade growth, declining fuel costs, and the expansion of e-commerce remain beneficial for air cargo,” Walsh said.
“However, it’s important to closely monitor evolving market conditions, especially given the uncertainty surrounding potential tariff-driven trade policies from the US government. Fortunately, the air cargo industry is well-equipped to adapt to such changes.”
Several factors impacted the air cargo sector’s performance:
- Global industrial production rose 2.6% in December, while global goods trade grew by 3.3% in the same month, marking the ninth consecutive month of growth.
- The Purchasing Managers’ Index (PMI) for global manufacturing output rose to 50.62 in January, the highest level since July 2024, signaling growth. Meanwhile, the PMI for new export orders climbed to 49.37, just below the 50 growth threshold.
- Consumer inflation in the US and Europe increased by 0.1 percentage points to 3.0% and 2.8%, respectively. In China, consumer inflation rebounded to 0.5% in January after falling to 0.1% over the previous four months.
Regionally, Latin American carriers saw the largest increase in demand, with a growth rate of 11.2% in January.
Asia-Pacific airlines followed with a 7.5% year-on-year increase in demand, while capacity expanded by 10.9%.
North American carriers recorded a 5.3% rise in demand and a 7.5% increase in capacity. European carriers experienced a modest 1.3% demand growth with a 3.5% increase in capacity.
In contrast, Middle Eastern carriers saw an 8.4% decline in demand, accompanied by a 1.2% decrease in capacity, while African airlines reported a 3.4% drop in demand, although capacity increased by 5.4%.
IATA noted that most international air cargo routes experienced growth in January, particularly benefiting from the rising demand for e-commerce in the US and Europe, coupled with ongoing capacity limitations in ocean shipping.
