Air cargo demand among Latin American and Caribbean airlines grew faster than available capacity in August 2026, reversing the pattern observed in previous months. The latest IATA figures also point to an improvement in regional cargo load factors.
Latin American and Caribbean airlines recorded a 5.1% year-on-year increase in air cargo demand in August 2026, while available capacity grew by 3.3%, according to data released by the International Air Transport Association (IATA) on September 29.
Measured in cargo tonne-kilometres (CTK), demand growth accelerated from 4.1% in July. Meanwhile, the increase in available cargo tonne-kilometres (ACTK) slowed from 7.0% to 3.3%, marking a change in the balance between traffic and capacity growth.
Cargo Demand Grows Faster Than Available Capacity
The August results mark a shift from the trend observed earlier in the year, when Latin American and Caribbean carriers expanded cargo capacity more rapidly than demand.
In June, regional CTK increased by 3.5% year on year, against a 9.8% rise in capacity. The gap narrowed in July, with demand up 4.1% and capacity growing 7.0%, before reversing in August.
The evolution is reflected in the region’s cargo load factor, which reached 34.9% in August, an increase of 0.6 percentage points compared with the same month in 2025.
In July, the load factor stood at 32.3%, down 0.9 percentage points year on year.
These figures suggest an improvement in the relationship between cargo traffic and available capacity. However, the year-on-year growth rates alone do not establish whether airlines deliberately adjusted their capacity or whether specific markets and commodities drove the change.
Regional Growth Exceeds the Global Average
Latin American and Caribbean carriers also outperformed the global air cargo market in August.
Worldwide demand increased by 4.4% year on year, compared with the region’s 5.1% growth. North American airlines recorded the strongest regional performance, with a 6.6% increase.
The figures place Latin America and the Caribbean among the faster-growing air cargo markets for the month, although their contribution to global traffic remains relatively small.
According to IATA, the region accounted for 2.9% of worldwide cargo tonne-kilometres in 2025, compared with 35.8% for Asia-Pacific and 24.6% for North America.
The regional cargo load factor also remained below the global average of 46.0% in August. While Latin American and Caribbean carriers recorded an improvement, their 34.9% load factor was the lowest among the six regions monitored by IATA.
The statistics cover airlines registered within the Latin America and Caribbean region, including their domestic and international cargo operations. They do not exclusively measure freight transported on routes within the region.
Higher Fuel Costs Add Pressure to Global Air Cargo Operations
The regional results come amid broader changes in international air freight demand and operating costs.
Globally, cargo capacity declined by 0.1% year on year in August, while demand increased by 4.4%. This lifted the worldwide cargo load factor by 2.0 percentage points to 46.0%.
The economic environment also showed signs of sustained trade activity. IATA reported that global merchandise trade increased by 6% year on year in July, while the global new export orders index reached 51.4, indicating expansion.
However, fuel costs remained a significant concern. Jet fuel prices reached approximately USD 157 per barrel in August, representing a substantial increase from the previous year.
Higher demand and improved aircraft capacity utilisation can support cargo operations, but elevated fuel costs continue to place pressure on airline economics. The available figures do not establish how these factors affected the profitability of individual Latin American and Caribbean carriers.
For the region, August marked a notable change after several months in which cargo capacity growth exceeded demand. The evolution of CTK, ACTK and cargo load factors in the coming months will help determine whether this more balanced growth pattern continues.
Sources: International Air Transport Association (IATA)
FAQ
How much did Latin American air cargo demand grow in August 2026?
Air cargo demand among Latin American and Caribbean airlines increased by 5.1% year on year in August 2026, measured in cargo tonne-kilometres, according to IATA.
Did cargo capacity grow as fast as demand?
No. Regional cargo capacity increased by 3.3%, compared with 5.1% growth in demand. This reversed the pattern observed in July, when capacity increased faster than cargo traffic.
What was the regional cargo load factor in August 2026?
The cargo load factor reached 34.9%, up 0.6 percentage points from August 2025. It remained below the global average of 46.0%.
