The International Air Transport Association (IATA) released data for May 2026 global air cargo markets.
The data suggests that Middle Eastern carriers saw an 8.9% year-on-year decrease in demand for air cargo in May, the weakest performance of all regions. Capacity decreased by 9.2% year-on-year.
Overall, however, total global demand, measured in cargo tonne-kilometers (CTK), increased by 6.0% compared to May 2025 levels (6.5% for international operations).
“Air cargo demand grew 6% year-on-year in May, with Africa, Asia-Pacific, Europe, and North American regions all reporting above trend growth,” said Willie Walsh, IATA’s Director General.
“Carriers in the Middle East, however, reported a combined contraction of 8.9% year-on-year as war-related impacts continued.”
During this time, global manufacturing activity remained supportive but export orders weakened.
The Global Manufacturing Output Purchasing Managers’ Index (PMI) rose to 53.5, while the New Export Orders Index stayed below the 50-mark at 49.6, with IATA data suggesting air cargo growth was supported by selected trade flows rather than a broad-based rise in global exports.
IATA data also suggested that air cargo performance diverged across major trade lanes in May. Asia-North America led growth followed by Africa-Asia, intra-Europe and Europe-Asia.
In contrast, Gulf-linked corridors were still severely disrupted by the ongoing conflict in the Middle East.
Additionally, utilisation in the Middle East increased slightly even though traffic declined because available capacity contracted more sharply.
Higher load factors therefore stemmed from reduced lift rather than a broad-based improvement in demand.
“May’s strong performance coupled with macro-economic factors give cautious optimism for air cargo’s prospects over the remainder of the year,” Walsh continued.
“Trade and manufacturing output are both growing. Airlines have adapted operations to align with shifting demand patterns and supply chain needs.
‘Meanwhile, yield growth and higher load factors are helping to recoup higher fuel costs. It’s still a tough year, particularly as Middle East uncertainties weigh heavily on parts of the industry, but robust demand and airline resilience are clear.”
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