Geneva – The International Air Transport Association (IATA) released data for March 2025 global air cargo markets showing:
- Total demand, measured in cargo tonne-kilometers (CTK), increased by 4.4% compared to March 2024 levels (+5.5% for international operations), a historic peak for March.
- Capacity, measured in available cargo tonne-kilometers (ACTK), expanded by 4.3% compared to March 2024 (+6.1% for international operations).
“March cargo volumes were strong. It is possible that this is partly a front-loading of demand as some businesses tried to beat the well-telegraphed 2 April tariff announcement by the Trump Administration. The uncertainty over how much of the 2 April proposals will be implemented may eventually weigh on trade. In the meantime, the lower fuel costs—which are also a result of the same uncertainty—are a short-term positive factor for air cargo. And, within the temporary pause on implementation we hope that political leaders will be able to shift trade tensions to reliable agreements that can restore confidence in global supply chains,” said Willie Walsh, IATA’s Director General.
Several factors in the operating environment should be noted:
- March volumes typically rise after a lull in February, and this single-digit increase is in line with pre-COVID growth trends.
- Jet fuel prices dropped 17.3% year-on-year, marking nine straight months of year-on-year declines.
- The sharp rise in US tariffs and new trade rules, especially the 2 May ban on duty-free imports from China and Hong Kong, may have prompted companies and buyers to make purchases in advance to avoid significant import fees.
- World industrial output grew 3.2% year-on-year, and trade volumes expanded 2.9%. Many key Consumer Price Inflation (CPI) indices fell: US inflation was 2.4%, down 0.4 points from February, EU CPI was 2.5% and Japan’s rate fell 0.1% to 3.6%. China remains in deflation but this eased to -0.1%.
Read more: https://www.iata.org/en/pressroom/2025-releases/2025-04-29-01/
