The latest IATA report for January 2025 provides key insights into the performance of the global air cargo sector. The industry continues to show resilience with steady demand growth, capacity expansion, and regional variations. Below is a comprehensive overview of the report’s findings.
Key Highlights
Demand Growth
Global air cargo demand increased by 3.2% compared to January 2024, marking the 18th consecutive month of growth. This steady rise underscores the sector’s continued recovery and strength in global trade.
Capacity Expansion
Airlines expanded total cargo capacity by 6.8% year-on-year, reflecting efforts to meet the growing demand.
International Operations
International air cargo demand grew by 3.6%, with a 7.3% increase in available capacity. This suggests that airlines are investing in global connectivity to sustain trade momentum.
Yields and Load Factors
- Cargo yields (revenue per unit of cargo) declined by 9.9% from December 2024, affecting profitability.
- Cargo load factors dropped by an average of 1.5 percentage points, indicating a slight decrease in efficiency despite rising capacity.
Economic Indicators
| Indicator | Change YoY |
|---|---|
| Industrial Production | +2.6% |
| Global Goods Trade | +3.3% |
| PMI for Global Manufacturing | Above 50 |
These indicators suggest a stable economic environment supporting air cargo demand.
Regional Performance
| Region | Demand Growth | Capacity Growth |
| Asia-Pacific | +7.5% | +10.9% |
| North America | +5.3% | +7.5% |
| Europe | +1.3% | +3.5% |
| Middle East | -8.4% | Not specified |
| Latin America | +11.2% | +10.6% |
| Africa | -3.4% | +5.4% |
Market Outlook
While air cargo demand continues to grow, the pace of expansion is moderating. Challenges such as tariff-driven trade policies and inflation in consumer markets could impact future performance. However, steady industrial production and strong trade figures indicate that air cargo will remain a crucial component of global supply chains.
The industry must navigate external pressures while leveraging capacity expansions and regional growth opportunities to sustain its positive momentum.
Glottis Limited 
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