The International Air Transport Association (IATA) released data for May 2026 global air cargo markets showing:

Total demand, measured in cargo tonne-kilometers (CTK), increased by 6.0% compared to May 2025 levels (6.5% for international operations).

Capacity, measured in available cargo tonne-kilometers (ACTK), increased by 1.9% compared to May 2025 (2.8% for international operations). 

Several factors in the operating environment should be noted:

Global trade increased by 5.0% year-on-year, extending 25 months of consecutive annual growth.

Jet fuel prices fell by 16.3% month-on-month in May but remained 93.5% above year-earlier levels.

Global manufacturing activity remained supportive in May, but export orders weakened. The Global Manufacturing Output Purchasing Managers’ Index (PMI) rose to 53.5, while the New Export Orders Index stayed below the 50-mark at 49.6, suggesting air cargo growth was supported by selected trade flows rather than a broad-based rise in global exports.

Trade Lane Growth
Air cargo performance diverged across major trade lanes in May. Asia-North America led growth followed by Africa-Asia, intra-Europe and Europe-Asia. In contrast, Gulf-linked corridors were still severely disrupted by the ongoing conflict in the Middle East.