Global air freight volumes climbed 3.9 percent in July compared with a year earlier, powered mostly by carriers in Asia-Pacific, Europe, and North America, according to new figures from the International Air Transport Association.
The Geneva-based trade group reported that international operations grew 4.7 percent, outpacing the overall market. Capacity expanded just 1.7 percent globally, which pushed load factors higher as demand outstripped available space.
Marie Owens Thomsen, IATA’s Senior Vice President Sustainability and Chief Economist, linked the gains to freighters taking share from passenger aircraft bellies. She noted that belly-hold traffic slipped while dedicated cargo planes captured more business, a shift that may signal shippers seeking specialist handling or larger shipment capabilities.
The broader operating picture supports continued growth. Global trade rose 7.5 percent year-on-year. Export orders hit a three-month high, even as the Global Manufacturing Output Purchasing Managers’ Index edged down 0.3 points to 52.7. Jet fuel prices tell a different story, however. They jumped 12.2 percent month-on-month in July and sat 56.9 percent above year-ago levels.
North American airlines recorded the strongest regional performance. Their cargo demand rose 4.8 percent while capacity shrank 1.5 percent, yielding the biggest load factor improvement of any region. European carriers grew demand 4.4 percent on a 1.3 percent capacity increase. Asia-Pacific airlines saw 4.1 percent demand growth alongside 3.0 percent more capacity.
Latin American and Caribbean operators matched Asia-Pacific’s 4.1 percent demand gain, though their capacity surged 7.0 percent, diluting load factors. Middle Eastern carriers posted a modest 1.7 percent demand increase against 4.0 percent capacity growth. African airlines brought up the rear with just 1.1 percent demand growth.
Trade lane results revealed sharp divergences. Asia to North America led with 9.2 percent growth, extending a six-month winning streak. Within Asia climbed 6.1 percent, marking 33 consecutive months of expansion. Europe to Asia grew 3.1 percent.
Meanwhile, corridors tied to the Gulf suffered steep declines. Europe to the Middle East plunged 16.1 percent, Middle East to Asia dropped 14.1 percent, and Africa to Asia fell 14.7 percent. IATA attributed these losses to fallout from the ongoing Middle East conflict.
The forward outlook remains broadly favorable, anchored by manufacturing activity, export orders, and trade flows. But Thomsen cautioned that higher fuel costs, geopolitical instability, and tariff uncertainty demand monitoring.
