African airlines’ air cargo demand rose 3.0% year-on-year in August 2026, while their capacity grew 14.0%, according to the International Air Transport Association’s Air Cargo Market Analysis for the month. With capacity running well ahead of demand, the cargo load factor of African carriers fell 3.9 percentage points to 36.5%.
Africa’s capacity growth accelerated by 9.5 percentage points from July, setting the region apart in a month when capacity growth slowed across most other regions. The pattern was the same in international markets, where African carriers’ traffic rose 3.0% and capacity 14.5%, taking the international load factor down 4.2 percentage points to 37.4%. African airlines accounted for 2.1% of industry cargo tonne-kilometres (CTK) in 2025.
The year-to-date position is different. From January to August, African cargo demand rose 8.5% on the same period of 2025 while capacity grew 2.2%, lifting the load factor 2.6 percentage points to 45.0%. International demand also rose 8.5% year-to-date against capacity growth of 2.2%, and the international load factor rose 2.7 percentage points to 46.4%.
Across the industry, air cargo demand rose 4.4% year-on-year, with growth in every carrier region but concentrated in North America and Asia Pacific. Together they generated 72.3% of the increase, adding 387.5 million and 371.5 million CTK respectively. Europe added a further 209.0 million CTK, and Latin American and Caribbean carriers, whose demand rose 5.1%, contributed 34.7 million CTK. IATA described growth in Africa and the Middle East as more subdued.
Industry capacity, measured in available cargo tonne-kilometres, fell 0.1%, as reductions among North American and European carriers outweighed additions elsewhere, and the global cargo load factor rose 2.0 percentage points to 46.0%. Europe had the highest regional load factor at 53.0%, followed by Asia Pacific at 48.6%, North America at 42.0% and Latin America and the Caribbean at 34.9%, all higher than a year earlier. Africa and the Middle East moved the other way as capacity growth exceeded demand, with the Middle East load factor down 1.0 percentage point to 43.1%.
International cargo traffic rose 5.3% across the industry. North American carriers led with 10.1% growth, followed by Asia Pacific at 5.5%, Latin America and the Caribbean at 4.8%, Europe at 4.3% and the Middle East at 1.0%. The Asia-North America corridor grew 13.2%, extending its growth to seven months and its run of double-digit growth to four. Europe-Asia traffic grew 3.1%, unchanged from July, and Europe-North America 4.3%, its highest growth in 17 months. Middle East-Asia traffic fell 14.6% and Europe-Middle East 15.1%, with both declines deepening from July and extending to six months.
Jet fuel reached US$157.0 per barrel, its highest level in three months and the highest August reading in 13 years, 8.3% above July and 79.2% above a year earlier. Dated Brent averaged US$90.8 per barrel, up US$7.4 on the month, and the jet fuel crack spread reached US$65.8 per barrel, a four-month high and its strongest August level in 13 years.
Air cargo yields rose 1.3% month-on-month, ending three consecutive months of decline, and were 24.9% above their year-earlier level, a sixth consecutive month of double-digit annual growth. The Global Manufacturing Output Purchasing Managers’ Index rose 0.3 points to 53.0 and the New Export Orders Index 1.4 points to 51.4, both above the 50-point level that indicates expansion, while global merchandise trade volumes rose 0.3% month-on-month and were 6.0% higher than a year earlier.
