The International Air Transport Association (IATA) released data for February 2025 global air cargo markets showing that African airlines saw a 5.7 percent year-on-year decrease in demand for air cargo in February as a result of rising trade tensions, among other factors.
Capacity decreased by 0.6 percent year-on-year.
Total demand, measured in cargo tonne-kilometers (CTK), declined by 0.1 percent compared to February 2024 levels (+0.4% for international operations). This marks the first decline since mid-2023.
Capacity, measured in available cargo tonne-kilometers (ACTK), decreased by 0.4 percent compared to February 2024 (+1.1 percent for international operations).
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“February saw a small contraction in air cargo demand, the first year-on-year decline since mid-2023. Much of this is explained by February 2024 being extraordinary—a leap year that was also boosted by Chinese New Year traffic, sea lane closures and a boom in e-commerce.
“Rising trade tensions are, of course, a concern for air cargo. With equity markets already showing their discomfort, we urge governments to focus on dialogue over tariffs,” said Willie Walsh, IATA’s Director General.
In January, the industrial production index rose 3.2 percent year-on-year, the highest growth in two years and world trade expanded by five percent.
Jet fuel prices averaged $ 94.6/barrel in February, a 2.1 percent drop from January.
In February, the Purchasing Managers Index (PMI) for global manufacturing output was above the 50-mark (51.5), indicating growth. The PMI for new export orders rose slightly to 49.60 from the previous month, remaining just shy of the 50-mark, which is the growth threshold.
In February, consumer inflation remained elevated in the US, Europe, and Japan, easing only slightly from the previous month. In contrast, China recorded its first decline in consumer prices in 11 months, reinforcing signs of persistent deflationary pressure in the economy.
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Asia-Pacific airlines saw 5.1 percent year-on-year demand growth for air cargo in February. Capacity increased by 2.7 percent year-on-year.
North American carriers saw a 0.4 percent year-on-year decrease in demand growth for air cargo in February. Capacity decreased by 3.5 percent year-on-year.
European carriers saw a 0.1 percent year-on-year decrease in demand growth for air cargo in February. Capacity decreased 0.2 percent year-on-year.
Middle Eastern carriers saw an 11.9 percent year-on-year decrease in demand growth for air cargo in February, the slowest among the regions. Capacity decreased by 4.0 percent year-on-year.
Latin American carriers saw 6.0 percent year-on-year demand growth for air cargo in February, the strongest growth among the regions. Capacity increased 7.6 percent year-on-year.
