International air cargo traffic across Latin America and the Caribbean continued to expand in February 2026, but the region’s latest performance also revealed widening divergences between its major markets. While overall volumes increased by 3.1% year-on-year, growth was increasingly concentrated in a small group of countries, led by Colombia, Argentina and Peru, as Brazil and Mexico lost momentum despite remaining among the region’s largest cargo markets.
According to ALTA’s latest regional analysis based on preliminary civil aviation authority data, international air cargo volumes reached 319,380 tonnes in February. Colombia, Brazil and Mexico alone accounted for nearly 60% of the region’s total cargo traffic, underlining the continued concentration of flows across a handful of major markets.
Regional cargo growth strengthened in February
After a softer start to the year, February showed a stronger expansion trend for international air cargo across Latin America and the Caribbean. North America remained the dominant destination region, accounting for 47.9% of total cargo flows, followed by Europe with 26.6%, while intra-regional Latin American and Caribbean traffic represented 16.6%.
The latest figures also confirmed that international cargo demand in the region continues to rely heavily on transatlantic and North American trade corridors. Flows linked to Asia-Pacific, the Middle East and Africa still represented less than 10% of total traffic.
Yet behind the regional growth figure, market performances differed sharply from one country to another.
Colombia becomes the region’s main cargo growth engine
Among the region’s major cargo markets, Colombia emerged as the strongest contributor to overall growth in February. The country handled 70,037 tonnes of international air cargo during the month, posting a 9% year-on-year increase and adding nearly 5,800 additional tonnes compared with February 2025.
Its largest international cargo corridor remained the United States, with 42,535 tonnes transported between the two countries. But the most notable developments came from secondary routes, highlighting a broader diversification of Colombia’s cargo network.
Traffic between Colombia and Mexico surged by 69%, while Colombia–Netherlands volumes increased by 67%. In contrast, Colombia–Brazil traffic declined slightly during the month.
These trends reinforce Colombia’s increasingly strategic position within the regional cargo landscape. Beyond its traditional US connectivity, the country is progressively strengthening links with both Europe and other Latin American markets.
Argentina and Peru continue to accelerate
Argentina recorded the fastest percentage growth among the region’s major markets in February. International cargo volumes increased by 15.6% year-on-year, equivalent to more than 2,100 additional tonnes.
The Argentina–United States corridor remained the country’s largest cargo market, growing by 24.7%. However, the strongest increases came from smaller but rapidly expanding routes, particularly Argentina–Germany, which jumped by 110%, and Argentina–Paraguay, which grew by 75%.
The figures suggest that Argentina’s cargo recovery is becoming increasingly diversified rather than being concentrated on a single international market.
Peru also maintained its positive momentum after already posting one of the region’s strongest performances in January. International cargo volumes reached 21,301 tonnes in February, driven largely by strong demand on routes to the United States.
Cargo traffic between Peru and the US grew by 14.9% year-on-year and accounted for most of the country’s net increase during the month. However, several secondary corridors weakened, including Peru–Spain, Peru–Colombia and Peru–Ecuador.
Brazil and Mexico lose momentum despite their scale
While Colombia, Argentina and Peru expanded, Brazil and Mexico continued to face slower cargo conditions.
Brazil remained the region’s second largest international cargo market with 66,823 tonnes transported in February. However, volumes declined by 1.5% year-on-year, marking the country’s seventh consecutive month of contraction.
All of Brazil’s main international cargo corridors posted declines during the month, including routes linked to the United States, Portugal, Chile and Germany.
Mexico also recorded weaker performance. International cargo traffic fell by 4% year-on-year to 47,638 tonnes, with the country’s largest corridor — Mexico–United States — dropping sharply by 32%.
At the same time, other international flows expanded significantly. Cargo traffic between Mexico and Hong Kong increased by 32%, while Mexico–China grew by 26% and Mexico–Spain by 21%.
This divergence points to a gradual rebalancing of Mexico’s international cargo profile, with Asian and European connections gaining relative importance as US-linked traffic weakens.
Europe remains a key driver of regional cargo activity
The report also highlighted the continued importance of European cargo connectivity for Latin America and the Caribbean.
International cargo traffic between the region and Spain remained particularly dynamic in February, increasing by 10.5% year-on-year. The strongest gains were recorded on Mexico–Spain and Chile–Spain routes, the latter posting a 32% increase.
The Netherlands also emerged as an increasingly important cargo destination through the rapid expansion of Colombia-linked traffic.
These trends suggest that several Latin American cargo markets are progressively diversifying beyond their traditional dependence on the United States, although North America still dominates the regional cargo landscape overall.
Freighter capacity growth signals evolving fleet dynamics
Beyond traffic volumes, the report also showed important changes in freighter capacity deployment across the region.
Total freighter capacity increased by 3.1% year-on-year in February, reaching 756 million available tonne-kilometers and marking the third consecutive month of growth after the decline recorded in late 2025.
The Boeing 747F remained the dominant freighter aircraft type in the region, accounting for 39% of total capacity despite a 4.1% decline year-on-year. Meanwhile, the Boeing 777F continued to gain ground, growing by 14.5% and reaching a 38.9% market share.
The Airbus A330F posted the strongest increase of all major aircraft types, surging by more than 92%, while Boeing 737 freighter operations also returned to growth after months of contraction.
The figures indicate that while large widebody freighters continue to dominate Latin American cargo operations, fleet deployment patterns are gradually evolving as operators adjust capacity across regional and long-haul markets.
