Global air cargo demand increased by 2.2% in May 2025 compared to the same period in 2024, while jet fuel prices fell by 18.8% year-on-year, according to data released by the International Air Transport Association (IATA).
The report also noted that international operations posted stronger demand growth at 3.0%, and that jet fuel prices were not only lower than the previous year but also 4.3% below April 2025 levels.
IATA further observed that global industrial production rose by 2.6% year-on-year in April 2025, while air cargo volumes expanded at a faster pace of 6.8%, exceeding the 3.8% growth in global goods trade during the same period.
“Total demand, measured in cargo tonne-kilometers (CTK), rose by 2.2% compared to May 2024 levels (+3.0% for international operations),” the IATA report read in part.
It added, “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.”
Despite the modest overall rise in volumes, IATA highlighted uneven performance across major trade lanes, including a notable 10.7% drop in traffic on the Asia–North America route.
IATA’s Director General, Willie Walsh, attributed the decline in that corridor to shifting U.S. trade policies and changes to customs exemptions for small e-commerce shipments. However, he emphasized the air cargo sector’s adaptability, noting that supply chains continue to adjust through re-routing, flexible scheduling, and other responsive strategies.
The IATA report also noted a moderate rise in cargo capacity for May, with available cargo tonne-kilometres (ACTK) increasing by 2.0% globally and 2.6% for international operations. It emphasized that air cargo volumes in April continued to outpace global goods trade, highlighting the sector’s growing significance in international logistics.
Nevertheless, signs of economic fragility persisted. Global manufacturing activity contracted in May, with the Purchasing Managers’ Index (PMI) slipping to 49.1—below the 50-point benchmark that indicates expansion. New export orders also remained subdued at 48, pointing to sustained pressure on global trade flows.
IATA noted that geopolitical uncertainty and shifting trade regulations continue to influence global air cargo dynamics. Nonetheless, forward-looking indicators suggest the sector remains adaptable and resilient in the face of ongoing challenges.