The International Air Transport Association (IATA) has reported an 11.2% year-on-year increase in global air cargo demand for February 2026, measured in cargo tonne-kilometers (CTK). International operations saw an even higher growth of 11.6%. Capacity, measured in available cargo tonne-kilometers (ACTK), also rose by 8.5% compared to February 2025, with international capacity increasing by 9.8%.
Willie Walsh, IATA’s Director General, commented, “February’s 11.2% growth in air cargo demand reflects strong performance, even accounting for the Lunar New Year’s impact on goods movement. However, the war in the Middle East, which began at the end of the month, introduces significant uncertainty for the year ahead. Rising fuel costs, supply disruptions, and challenges at key Gulf cargo hubs are major concerns. While air cargo has shown resilience in the past, resolving the conflict and stabilizing fuel supply and costs would benefit all stakeholders.”
Key Operating Environment Insights:
- Global Goods Trade: Up 5.2% year-on-year in January 2026.
- Jet Fuel Prices: Increased by 1.2% year-on-year in February, with refining margins remaining volatile.
- Manufacturing Sentiment: The global Purchasing Managers’ Index (PMI) rose to 53.1, signaling expansion. The PMI for new export orders reached 51.4, its highest since July 2021, indicating favorable conditions for air cargo demand.
February 2026 Air Cargo Market Performance
Region
CTK Growth
ACTK Growth
Load Factor Change
Load Factor Level
Total Market
+11.2%
+8.5%
+1.1 percentage points
46.0%
Africa
+21.0%
+17.3%
+1.3 percentage points
43.8%
Asia-Pacific
+13.6%
+10.1%
+1.4 percentage points
45.5%
Europe
+6.9%
+6.1%
+0.4 percentage points
59.1%
Latin America & Caribbean
+0.7%
+4.5%
-1.3 percentage points
35.2%
Middle East
+16.5%
+13.5%
+1.1 percentage points
44.4%
North America
+9.4%
+5.3%
+1.5 percentage points
41.1%
Regional Highlights:
- Africa: Led all regions with a 21.0% increase in demand and a 17.3% rise in capacity.
- Asia-Pacific: Recorded a 13.6% growth in demand, with capacity up 10.1%.
- Middle East: Achieved a 16.5% increase in demand, supported by a 13.5% rise in capacity.
- North America: Saw a 9.4% growth in demand, with capacity increasing by 5.3%.
- Europe: Experienced a 6.9% rise in demand, with capacity up 6.1%.
- Latin America & Caribbean: Posted the weakest performance, with demand up just 0.7% and capacity rising by 4.5%.
Trade Lane Growth:
Air freight volumes grew across all major trade corridors in February 2026:
Trade Lane
YoY Growth
Notes
Market Share (2025)
Africa-Asia
+61.9%
8 consecutive months of growth
1.3%
Asia-North America
+9.1%
1 month of growth
23.4%
Europe-Asia
+13.1%
36 consecutive months of growth
21.5%
Europe-Middle East
+9.3%
2 consecutive months of growth
5.2%
Europe-North America
+5.7%
25 consecutive months of growth
13.5%
Middle East-Asia
+24.0%
12 consecutive months of growth
7.4%
Within Asia
+9.1%
28 consecutive months of growth
7.3%
Within Europe
+7.8%
1 month of growth
1.9%
*Market share is based on full-year 2025 CTKs.
Despite February’s strong performance, the air cargo industry faces challenges ahead due to geopolitical tensions and fuel-related disruptions. However, the sector’s resilience and adaptability remain key strengths.
Source: ATN.aero