The International Air Transport Association (IATA) has released data for February 2026 global air cargo markets, showing that total demand, measured in cargo tonne-kilometres (CTK), rose by 11.2% compared to February 2025 levels, and by 11.6% for international operations.
Capacity, measured in available cargo tonne-kilometres (ACTK), increased by 8.5% year-on-year, and by 9.8% for international operations.
According to Willie Walsh, IATA’s Director General, air cargo demand showed strong growth in February, even when accounting for the boost from goods movements ahead of Lunar New Year. However, he noted that the outbreak of war in the Middle East at the end of the month has introduced uncertainty for full-year performance, citing rising fuel costs, fuel scarcity in some regions, and disruption to key cargo hubs in the Gulf.
Several factors in the operating environment were highlighted. Global goods trade grew by 5.2% year-on-year in January. Jet fuel prices rose by 1.2% year-on-year in February, while a widening Brent–jet fuel crack spread reflected continued volatility in refining margins.
Global manufacturing sentiment strengthened during the month, with the Purchasing Managers’ Index (PMI) rising to 53.1, remaining above the 50-point expansion threshold. The PMI for new export orders increased to 51.4, marking the highest level since July 2021 and indicating positive conditions for air cargo demand.
African airlines recorded the strongest regional performance, with demand increasing by 21.0% year-on-year in February. Capacity in the region rose by 17.3% over the same period.
For the full IATA Air Cargo Market Analysis, go here.
