Global air cargo demand, measured in cargo tonne-kilometres, rose 8.5% year-on-year in June 2026, with international operations increasing 9.6%, the International Air Transport Association reported. Available capacity grew more slowly, at 4.4% overall and 4.9% internationally, tightening market conditions.

Demand growth outstripped capacity in every region except Latin America and the Caribbean, IATA Director General Willie Walsh noted. The expansion was faster than the 5.2% rise in global trade, supported by high-value technology products and time-sensitive shipments. However, the global manufacturing output purchasing managers’ index slipped 0.5 points to 53.0, and the new export orders index remained in contraction territory at 49.4 for a fourth consecutive month, indicating that air cargo was propelled by specific trade flows rather than broad-based export strength.

North American carriers posted the strongest demand increase, at 13.1%, with capacity up 6.2%. Asia-Pacific airlines recorded 7.9% demand growth, European carriers 6.9%, and Middle Eastern operators 5.6%—a figure amplified by comparison with a weak June 2025, when military conflict disrupted operations. Latin American and Caribbean airlines saw the weakest demand growth, at 3.5%, alongside a 9.8% capacity surge. African carriers managed a 4.7% demand rise despite a 7.1% capacity contraction.

Walsh cautioned that risks remain: ongoing hostilities in West Asia and a renewed US focus on tariffs. Jet fuel prices, though down 20% month-on-month, were still 45.8% above year-earlier levels. The market will now watch whether these geopolitical and trade-policy headwinds begin to weigh on the robust volume gains recorded in the first half of 2026.