Global air freight activity increased 11.2% in February 2026 compared with the same month a year earlier, the International Air Transport Association said in data released Monday. The increase in demand, measured in cargo tonne-kilometers, outpaced capacity growth for the month.
IATA reported total demand rose 11.2% year-on-year. International operations saw a slightly stronger lift, with demand up 11.6% compared with February 2025. Available cargo tonne-kilometers - the standard measure of capacity - increased 8.5% overall, while international capacity rose 9.8% versus the prior year.
Willie Walsh, IATA's Director General, attributed part of February's uplift to shipments moved ahead of the Lunar New Year. He warned, however, that the outbreak of war in the Middle East at the end of February introduces uncertainty for full-year results. Walsh pointed to several specific headwinds tied to the conflict - upward pressure on fuel prices, fuel shortages in some areas, and disruption at major cargo hubs in the Gulf.
The IATA release placed the cargo market's February performance in a broader economic context. Global goods trade expanded 5.2% year-on-year in January. Jet fuel prices were 1.2% higher year-on-year in February, and IATA noted that the Brent-jet fuel crack spread widened, a signal of increased volatility in refining margins.
Manufacturing indicators showed expansion in February. The global manufacturing Purchasing Managers' Index reached 53.1, above the 50-point threshold that separates contraction from growth. The PMI for new export orders rose to 51.4 in February, marking its highest reading since July 2021.
Regional carriers delivered markedly different outcomes. African airlines recorded the strongest percentage increase in demand, up 21.0% year-on-year in February, with capacity for the region rising 17.3%. Asia-Pacific carriers saw demand climb 13.6% alongside a 10.1% increase in capacity. Middle Eastern airlines reported demand growth of 16.5% and capacity expansion of 13.5%.
North American carriers posted a 9.4% rise in demand with capacity up 5.3%. European operators experienced a 6.9% increase in demand and a 6.1% increase in available capacity. The weakest regional showing came from Latin America and the Caribbean, where demand edged up just 0.7% while capacity increased 4.5%.
Trade-lane data highlighted several strong routes. The Africa-Asia corridor registered the most pronounced year-on-year gain at 61.9%, marking the eighth consecutive month of expansion on that lane. The Middle East-Asia route grew 24.0%, extending a 12-month growth streak. The Europe-Asia lane continued its long run of increases, up 13.1% and marking 36 consecutive months of expansion.
Taken together, the figures point to robust demand growth in February, supported by seasonal movement and improving manufacturing order trends. At the same time, the late-month geopolitical shock and evolving fuel market dynamics highlight downside risks that could affect airline costs, routing and hub operations into the remainder of the year.