African airlines saw a 15.6 percent year-on-year increase in demand for air cargo in November, the strongest rise of all regions. Capacity increased by 18.1 percent year-on-year.
This is contained in data by the International Air Transport Association (IATA) for November 2025 global air cargo markets.
“Air cargo demand grew 5.5 percent year-on-year in November 2025, boosted by shippers prioritising timely delivery in the lead-up to the year-end holiday season. Strong emerging market demand and selective Middle Eastern growth more than made up for softness in the Americas amid ongoing adjustment to the new US tariff regime.
“Globally, the fourth quarter for air cargo was resilient as strategic re-routing of trade shaped performance across key markets. The strong end for 2025 bodes well for the air cargo industry as it enters the new year,” said Willie Walsh, IATA’s Director General.
Several factors in the operating environment should be noted:
The global goods trade grew by 3.2 percent year-on-year in October.
Jet fuel prices rose 5.9 percent in November despite falling crude prices, driven by refinery disruptions, EU restrictions on Russian-derived products, and limited spare refining capacity, pushing crack spreads close to double last year’s levels.
Global manufacturing sentiment strengthened in November, with the PMI rising for the fourth consecutive month to reach 51.17. New export orders improved slightly to 49.87, but remained below the 50-point expansion threshold, reflecting ongoing caution amid tariff uncertainty.
Total demand, measured in cargo tonne-kilometres (CTK), rose by 5.5 percent compared to November 2024 levels (+6.9 percent for international operations).
Capacity, measured in available cargo tonne-kilometres (ACTK), increased by 4.7 percent compared to November 2024 (+6.5 percent for international operations).
November Regional Performance
Asia-Pacific airlines saw a 10.3 percent year-on-year growth in air cargo demand in November. Capacity increased by 8.4 percent year-on-year.
North American carriers saw a 1.6 percent year-on-year decrease in growth for air cargo in November. Capacity decreased by 2.3 percent year-on-year.
European carriers saw a 5.8 percent year-on-year increase in demand for air cargo in November. Capacity increased 4.1 percent year-on-year.
Middle Eastern carriers saw a 7.4 percent year-on-year increase in demand for air cargo in November. Capacity increased by 11.0 percent year-on-year.
Latin American and Caribbean carriers saw a 4.8 percent year-on-year decrease in demand for air cargo in November, the weakest performance of all regions. Capacity decreased by 3.0% year-on-year.
