Global air cargo demand rose by 5.8 per cent in April 2025 compared to the same month last year, according to data released by the International Air Transport Association (IATA).
Capacity, measured in available cargo tonne-kilometres (ACTK), increased by 6.3 per cent year-on-year, slightly outpacing demand and, as a result, pushing the global cargo load factor down marginally by 0.2 percentage points to 43.9 per cent.
In line with this, international operations saw demand rise by 6.5 per cent, while capacity grew by 6.9 per cent.
Commenting on the figures, IATA’s Director General Willie Walsh said “Air cargo demand grew strongly in April, with volumes up 5.8 per cent year-on-year, building on March’s solid performance. Seasonal demand for fashion and consumer goods – front-loading ahead of US tariff changes, and lower jet fuel prices have combined to boost air cargo.”
However, he cautioned that “shifts in trade policy, particularly in the US, are already reshaping demand and export dynamics,” adding that “airlines will need to remain flexible as the situation develops over the coming months.”
Furthermore, the monthly results were supported by broader economic indicators. Global industrial production rose by 3.2 per cent in March, while air cargo growth notably outpaced global goods trade, which increased by 6.5 per cent month-on-month.
At the same time, jet fuel prices continued to decline, dropping by 21.2 per cent year-on-year and by 4.1 per cent since March, the third consecutive monthly decrease.
The global manufacturing PMI also rose to 50.5 in April, signalling a fourth straight month of expansion.
Nonetheless, the sub-index for new export orders fell by 2.8 points to 47.2, remaining in contraction territory.
Among regions, Latin American carriers recorded the highest year-on-year growth in demand, up by 10.1 per cent in April.
Capacity increased by 8.5 per cent, which lifted the load factor by 0.6 percentage points to 39 per cent.
Similarly, Asia-Pacific airlines posted strong growth, with demand rising by 10.0 per cent and capacity by 9.4 per cent. This resulted in a modest increase in load factor to 44.8 per cent.
In contrast, African carriers saw a 4.7 per cent increase in demand, while capacity surged by 9.7 per cent, bringing the load factor down by 2 percentage points to 41.6 per cent.
North American airlines recorded a 4.2 per cent rise in demand and a 4.6 per cent increase in capacity. As a consequence, the load factor slipped by 0.2 percentage points to 38.6 per cent.
European carriers, meanwhile, saw demand rise by 2.9 per cent, with capacity up by 3.3 per cent. The load factor declined slightly to 51.9 per cent.
Middle Eastern airlines reported the weakest performance among the regions. Although demand increased by 2.3 per cent, capacity rose by 5.5 per cent, leading to a 1.3 percentage point drop in load factor to 43.5 per cent.
Looking at trade lanes, all major international routes recorded year-on-year growth in April, except for Middle East–Europe (-4.6 per cent), Africa–Asia (-7.9 per cent), and intra-European traffic (-8.8 per cent).
The Europe–Asia corridor continued to perform strongly, registering an 11.3 per cent increase, marking 26 consecutive months of growth and accounting for 20.5 per cent of global air cargo traffic.
Likewise, the Europe–North America route grew by 9.6 per cent, while intra-Asia traffic increased by 10 per cent, extending its growth streak to 18 months.
Volumes on the Middle East–Asia route were also up, by 6.7 per cent, and Asia–North America recorded a 1.9 per cent rise, marking the second straight month of gains.
On a full-year 2024 basis, the total market share by carrier region in terms of cargo tonne-kilometres (CTK) stood at: Asia-Pacific 34.2 per cent, North America 25.8 per cent, Europe 21.5 per cent, Middle East 13.6 per cent, Latin America 2.9 per cent, and Africa 2 per cent.
