The International Air Transport Association (IATA) released data for November 2025 global air cargo markets showing:

Total demand, measured in cargo tonne-kilometers (CTK), rose by 5.5% compared to November 2024 levels (+6.9% for international operations).

Capacity, measured in available cargo tonne-kilometers (ACTK), increased by 4.7% compared to November 2024 (+6.5% for international operations). 

Several factors in the operating environment should be noted:

The global goods trade grew by 3.2% year-on-year in October. 

Jet fuel prices rose 5.9% 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.

Trade Lane Growth

Air freight volumes in November 2025 increased across all major trade corridors.