Total demand, measured in cargo ton-kilometers (CTK), rose by 11.2% compared to February 2025 levels (+11.6% for international operations), according to data released by The International Air Transport Association (IATA).
Capacity, measured in available cargo ton-kilometers (ACTK), increased by 8.5% compared to February 2025 (+9.8% for international operations).
“Air cargo demand grew 11.2% in February. Even considering the boost that February received from the movement of goods ahead of Lunar New Year, the month showed strong growth. The outbreak of war in the Middle East at the end of the month, however, makes it difficult to see how full-year performance will unfold. Sharply rising fuel costs, fuel scarcity in parts of the world, and the severe disruption to key cargo hubs in the Gulf are major shifts. While air cargo has repeatedly proven its resilience in the face of disruption, an early resolution of the war along with a normalization of fuel supply and costs would be in everybody’s interest,” says Willie Walsh, IATA’s director general.
Key takeaways:
- The global goods trade grew by 5.2% year-on-year in January.
- Jet fuel prices rose 1.2% year-on-year in February, while a widening Brent–jet fuel crack spread highlighted continued volatility in refining margins.
- Global manufacturing sentiment strengthened in February, with the Purchasing Managers’ Index (PMI) rising to 53.1, remaining above the 50-point expansion threshold. The PMI for new export orders rose to 51.4, above the growth threshold and the highest level since July 2021, indicating positive conditions for air cargo demand.
- North American carriers saw a 9.4% year-on-year increase in air cargo demand in February. Capacity increased by 5.3% year-on-year.
