Global air cargo demand strengthened in June 2026, with cargo traffic up 8.5% year on year as international demand rose 9.6%. Capacity increased 4.4%, leaving load factors under pressure but still firm at 46.9% for the month. North America led the expansion, while every region posted positive growth, and Asia-Pacific airlines recorded a 7.9% gain. The split between demand and lift shows a market that is tightening faster than supply, a constructive signal for operators tracking yields, belly capacity utilisation and network planning into the third quarter.