The International Air Transport Association (IATA) has released its global air cargo market report for May 2025. In the fifth month of the year, total demand as measured in cargo tonne-kilometers (CTK) increased by 2.2% compared to levels from May 2024.
Capacity in available cargo tonne-kilometers (ACTK) rose by 2% from the previous year.
IATA’s director-general, Willie Walsh, mentioned: “Air cargo demand globally grew 2.2% in May, and that is encouraging news as a 10.7% drop in traffic on the Asia to North America trade lane illustrated the dampening effect of shifting U.S. trade policies. As these policies evolve, we can see the air cargo sector’s resilience helping shippers adapt to supply chain needs.”
Mitigating Factors
- Year-on-year, global industrial production grew 2.6% in April 2025, while air cargo volumes surged 6.8%, outpacing global goods trade growth of 3.8%.
- Jet fuel prices in May 2025 were 18.8% lower compared to the previous year and 4.3% less than the month before.
- Overall, global manufacturing saw a contraction in May, with the PMI dropping to 49.1, indicating a slowdown.
Regional Performance in May 2025
- Asia-Pacific airlines experienced 8.3% year-on-year demand growth, the best of all regions.
- North American carriers reported a -5.8% drop in air cargo demand.
- European carriers recorded 1.6% growth, while Middle Eastern and Latin American carriers saw 3.6% and 3.1% increases, respectively.
- African airlines had a 2.1% decline in demand.
As changes reshape cargo flows, several route areas have notably adapted, demonstrating resilience despite trade policy constraints.
