The International Air Transport Association (IATA) has released its latest data for global air cargo markets, reporting strong growth in February 2026 despite rising uncertainty linked to geopolitical tensions and fuel market volatility.
Total air cargo demand, measured in cargo tonne-kilometers (CTK), increased by 11.2% compared to February 2025 levels. International operations slightly outperformed, growing by 11.6% year-on-year. Meanwhile, cargo capacity, measured in available cargo tonne-kilometers (ACTK), rose by 8.5% overall and 9.8% for international services.
“Air cargo demand grew 11.2% in February. Even considering the seasonal boost from shipments ahead of Lunar New Year, the month demonstrated strong underlying growth,” said Willie Walsh, Director General of IATA.
“However, the outbreak of war in the Middle East toward the end of the month introduces significant uncertainty for the remainder of the year. Rising fuel costs, supply constraints, and disruptions to key cargo hubs in the Gulf represent major challenges. While the sector has consistently shown resilience, a swift resolution and stabilization of fuel markets would benefit all stakeholders.”
Several key indicators shaped the operating environment:
- Global goods trade expanded by 5.2% year-on-year in January.
- Jet fuel prices increased by 1.2% year-on-year in February, alongside continued volatility in refining margins.
- Manufacturing activity strengthened, with the Purchasing Managers’ Index (PMI) rising to 53.1, signaling expansion.
- New export orders PMI reached 51.4, the highest level since July 2021, indicating improving conditions for air cargo demand.
- Asia-Pacific airlines led major markets with a 13.6% increase in demand and a 10.1% rise in capacity.
- North American carriers reported a 9.4% increase in demand, with capacity up 5.3%.
- European airlines saw demand grow by 6.9%, while capacity rose 6.1%.
- Middle Eastern carriers posted a 16.5% increase in demand and a 13.5% capacity expansion, despite emerging disruptions.
- Latin America and the Caribbean recorded the weakest growth, with demand rising just 0.7% and capacity increasing 4.5%.
- African airlines achieved the strongest performance globally, with demand surging 21.0% and capacity growing 17.3%.
While February’s results reflect robust momentum in global air cargo markets, the outlook remains uncertain. Geopolitical developments, particularly in the Middle East, combined with fuel supply challenges and cost pressures, could significantly influence performance in the months ahead.
