May global air cargo demand up 2.2%
Capacity, measured in available cargo tonne-kilometers (ACTK), increased by 2.0% compared to May 2024 (+2.6% for international operations).
'Air cargo demand globally grew 2.2% in May. 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 US trade policies. Even as these policies evolve, already we can see the air cargo sector's well-tested resilience helping shippers to accommodate supply chain needs to flexibly hold back, re-route or accelerate deliveries,' said Willie Walsh, IATA's Director General.
Several factors in the operating environment should be noted:
Year-on-year, world industrial production rose 2.6% in April 2025. Air cargo volumes grew 6.8% over the same period, outpacing global goods trade growth of 3.8%.
Jet fuel prices in May 2025 were 18.8% lower than the previous year and 4.3% below the previous month.
Global manufacturing contracted in May, with the PMI falling to 49.1, below the 50 mark that signals growth. New export orders also remained in negative territory at 48, reflecting pressure from recent U.S. trade policy changes.
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