Key Takeaways

  • International passenger traffic grew 9.4% in 2025.
  • Cargo demand rose 5.6% despite tariffs.
  • Airlines added 10.2% more capacity to meet demand.

Strategic Implications

The strong growth may indicate sustained travel demand across key markets, but ongoing trade tensions and geopolitical uncertainty could impact the industry’s ability to deliver sustainable growth. The focus on cost discipline and digital capabilities suggests a cautious optimism for 2026.