The global demand for air freight rose by 4.4% in August 2026 compared to the same month in the previous year, according to the International Air Transport Association (IATA). This increase was driven by higher freight ton-kilometers transported, or CTK, which rose by the same percentage. Meanwhile, the available capacity for air freight slightly declined by 0.1%, helping to improve the load factor—the percentage of available cargo space that is actually used. For international operations, demand was even higher, with a 5.3% year-on-year increase. Global capacity, measured in freight ton-kilometers available, or ACTK, decreased by 0.1%, but international capacity actually rose by 0.1%. The air freight load factor increased by 2 points year-on-year, reaching 46%. Marie Owens Thomsen, senior vice president for sustainability and chief economist at IATA, noted that the growth in air freight demand was seen across all regions, even as capacity was slightly reduced. She said that sustained demand and higher load factors have helped airlines recover part of the exceptionally high fuel costs. Yields—essentially the revenue per unit of freight—increased month-on-month for the first time since April. Global trade in goods grew by 6% year-on-year in July, continuing a streak of 33 consecutive months of annual growth, according to IATA. At the same time, global manufacturing activity accelerated in August. The production PMI index, a key indicator of manufacturing performance, rose by 0.3 points to 53, while the export new orders index increased by 1.4 points to 51.4. These figures above 50 typically signal expansion in economic activity. Despite these positive trends, the context remains challenging due to rising fuel prices. Kerosene prices, a critical fuel for air travel, increased by 8.3% compared to July and by 79.2% year-on-year in August. Demand for air freight increased in all regions, with North American carriers showing the strongest performance, recording a 6.6% increase in CTK. Their capacity declined by 2.5%, which brought the load factor to 42%, an improvement of 3.6 points. European carriers saw a 4.1% increase in demand, while their capacity decreased by 3.5%, leading to a 3.9-point rise in their load factor to 53%, the highest among major regions. In the Asia-Pacific region, which accounts for 35.8% of the global air freight market, demand increased by 4.3%, and capacity rose by 1.2%. Carriers in the Middle East experienced the slowest growth, with demand increasing by just 1%. Their capacity increased by 3.3%, but this led to a 1-point decline in their load factor, which fell to 43.1%. IATA notes that routes connected to the Gulf are still affected by the Middle East conflict, with notable decreases in traffic—12.1% between Europe and the Middle East, and 11% between the Middle East and Asia. In contrast, the Asia-North America corridor recorded the strongest growth among major corridors, with a 13.2% increase. This marks the seventh consecutive month of growth on this transpacific route. Europe-Asia traffic increased by 3.1%, extending a series of 42 months of growth, while intra-Asia traffic rose by 6.1%. IATA sees positive signals before the traditional peak season at the end of the year, which is usually crucial for air freight. The association, however, cautions that maintaining this momentum will depend on the evolution of global trade, energy prices, and geopolitical tensions. For Marie Owens Thomsen, the increase in demand, the recovery of yields, and the continued growth of global trade are "positive signs as the end-of-year peak season approaches."