Geneva – The International Air Transport Association (IATA) has released data for global air cargo markets in April 2025, highlighting significant growth:
Total demand, measured in cargo tonne-kilometers (CTKs), increased by 5.8% compared to April 2024 (+6.5% for international operations).
Capacity, measured in available cargo tonne-kilometers (ACTKs), grew by 6.3% year-on-year (+6.9% for international operations).
"Air cargo demand experienced robust growth in April, with volumes up 5.8% compared to the previous year, building on March’s solid performance. Seasonal demand for fashion and consumer goods—driven by front-loading ahead of U.S. tariff changes—and declining jet fuel prices have contributed to this boost. With available capacity reaching record levels and yields improving, the air cargo outlook remains positive. However, ongoing shifts in trade policy, especially in the U.S., are reshaping demand and export dynamics. Airlines must stay agile as these trends evolve over the coming months," said Willie Walsh, IATA’s Director General.
Key Factors Influencing the Operating Environment
World Industrial Production: Year-on-year, global industrial production rose by 3.2% in March. Air cargo growth outpaced global goods trade, which increased by 6.5% month-on-month.
Jet Fuel Prices: Prices dropped 21.2% year-on-year and 4.1% month-on-month, marking the third consecutive monthly decrease.
Global Manufacturing PMI: The index rose to 50.5 in April, signaling expansion for the fourth consecutive month. However, the PMI for new export orders fell 2.8 points to 47.2, remaining below the growth threshold of 50.
Detailed Air Cargo Market Performance – April 2025
| Region | % World Share | CTK YoY Growth | ACTK YoY Growth | Load Factor Change (%-pt) | Load Factor (%) |
|---|---|---|---|---|---|
| Total Market | 100% | +5.8% | +6.3% | -0.2 | 43.9 |
| Africa | 2.0% | +4.7% | +9.7% | -2.0 | 41.6 |
| Asia-Pacific | 34.2% | +10.0% | +9.4% | +0.3 | 44.8 |
| Europe | 21.5% | +2.9% | +3.3% | -0.2 | 51.9 |
| Latin America | 2.9% | +10.1% | +8.5% | +0.6 | 39.0 |
| Middle East | 13.6% | +2.3% | +5.5% | -1.3 | 43.5 |
| North America | 25.8% | +4.2% | +4.6% | -0.2 | 38.6 |
Regional Performance Highlights
Asia-Pacific: Demand grew by 10.0%, with capacity up 9.4% year-on-year.
North America: Demand increased by 4.2%, while capacity rose 4.6% year-on-year.
Europe: Recorded a 2.9% rise in demand and a 3.3% increase in capacity.
Middle East: Posted a 2.3% growth in demand, the lowest among regions, with capacity up by 5.5%.
Latin America: Experienced the highest demand growth at 10.1%, with capacity increasing by 8.5%.
Africa: Demand rose by 4.7%, while capacity expanded 9.7% year-on-year.
Trade Lane Analysis
| Trade Lane | YoY growth | Notes | Market share of industry* |
|---|---|---|---|
| Asia-North America | +1.9% | 2 consecutive months of growth | 24.4% |
| Europe-Asia | +11.3% | 26 consecutive months of growth | 20.5% |
| Europe-Middle East | -4.6% | 5.7% | |
| Middle East-Asia | +6.7% | 2 consecutive months of growth | 7.3% |
| Within Asia | +10.0% | 18 consecutive months of growth | 7.0% |
| Europe-North America | +9.6% | 15 consecutive months of growth | 13.3% |
| Africa-Asia | -7.9% | 1.4% | |
| Within Europe | -8.8% | 2.0% |
(*Market share is based on full-year 2024 CTKs.)
Conclusion
April 2025 marked another month of encouraging growth for global air cargo markets, with rising demand fueled by strong seasonal factors and declining operational costs. Despite favorable developments, challenges persist, including trade policy shifts and fluctuating export dynamics. Airlines must remain adaptive to navigate the evolving market landscape effectively.
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