Global air cargo demand rose 5.5% year-on-year in November 2025 as shippers relied on air freight to meet tight holiday-season delivery timelines, according to IATA.

International traffic outpaced overall growth, increasing 6.9%, while global cargo capacity expanded 4.7%. IATA said strong demand from emerging markets and selective growth in the Middle East offset weaker performance in the Americas amid adjustments to the new US tariff regime.

Economic signals were mixed: global goods trade grew 2%, manufacturing sentiment improved, but jet fuel prices climbed 5.9% due to refinery disruptions. Regionally, Africa led with 15.6% growth, followed by Asia-Pacific at 10.3%. North America and Latin America saw declines. Load factors remained stable at 49.1%.