International Air Transport Association: Maintain cautious optimism for the aviation cargo outlook this year.

On June 29th, the International Air Transport Association released its regular data on the global air cargo market. The data shows that in May 2026, total air cargo demand increased by 6.0% compared to the same period last year, with international demand growing by 6.5%. Capacity increased by 1.9% year-on-year, with international capacity increasing by 2.8%. Global trade grew by 5.0% year-on-year, maintaining annual growth for 25 consecutive months. Willie Walsh, Chairman of the International Air Transport Association, said, "In May, air cargo demand increased by 6% year-on-year, with growth in air cargo in Africa, Asia, the Pacific, Europe, and North America all above trend level. However, due to the ongoing drag from war-related impacts, air cargo demand for airlines in the Middle East region collectively decreased by 8.9% year-on-year." The strong performance in May combined with macroeconomic factors has led the International Air Transport Association to maintain a cautiously optimistic outlook for the remaining period of the year in terms of air cargo prospects. While global manufacturing activity remains active in May, export orders have decreased. The Global Manufacturing Output Purchasing Managers Index rose to 53.5, while the New Export Orders Index remained below 50 at 49.6, indicating that air cargo growth is driven by corresponding trade volumes rather than widespread growth in global exports. "Both trade and manufacturing output are growing. Airlines have also adjusted operations to adapt to changing demand patterns and supply chain needs. At the same time, revenue growth and load factor improvements are helping to offset the pressure of rising fuel costs. This year will continue to be challenging, especially with the uncertainty in the Middle East, which is causing significant impacts on certain sectors of the industry. However, strong demand and the resilience of airlines are also evident." Willie Walsh said.