The International Air Transport Association (IATA) released data for May 2026 global air cargo markets showing total demand increase by 6.0% compared to May 2025 levels. Capacity increases by 1.9% compared to May 2025.
Middle East 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.
Willie Walsh, IATA’s Director General said: “Air cargo demand grew 6% year-on-year in May, with Africa, Asia-Pacific, Europe, and North American regions all reporting above trend growth. Carriers in the Middle East, however, reported a combined contraction of 8.9% year-on-year as war-related impacts continued.
"May’s strong performance coupled with macro-economic factors give cautious optimism for air cargo’s prospects over the remainder of the year. 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,”
Several factors in the operating environment affected performance.
Global trade increased by 5.0% year-on-year, extending 25 months of consecutive annual growth. Jet fuel prices fell by 16.3% month-on-month in May but remained 93.5% above year-earlier levels.
Global manufacturing activity remained supportive in May, 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, suggesting air cargo growth was supported by selected trade flows rather than a broad-based rise in global exports.
Read More: Shortage of Capacity to Create Bottlenecks for Air Cargo in 2026