Top 10 Cargo Airlines in the World

FedEx enters 2026 with 660+ dedicated freighters and 18.1bn CTK — here’s the IATA-sourced ranking of the world’s largest cargo airlines.

Global air cargo volumes reached almost 128.9 million tonnes in 2025, up roughly 2.9% year-over-year and about 8.8% above the pre-pandemic 2019 baseline. IATA’s World Air Transport Statistics confirms scheduled freight ton kilometers (FTK) remains the gold standard for ranking cargo airlines, accounting for both freight weight and distance flown. Here’s who dominates the skies in 2026.

1. FedEx Express

Enters 2026 with the world’s largest cargo fleet — over 660 dedicated freighters — and posted 18.1 billion CTK with a modest 1.2% year-over-year increase. FedEx remains the largest operator of the Boeing 767-300F and continues modernizing away from remaining MD-11F and A300F aircraft.

2. Emirates SkyCargo

Excels in widebody belly capacity, making it a leading choice for Middle East transits and ranking among the top global carriers by combined freighter and belly cargo capacity.

3. UPS Airlines

Transported 15,094 CTK, with continued focus on expanding healthcare logistics and time-definite delivery services, reinforcing its role in time-critical supply chains.

4. Qatar Airways Cargo

Has climbed the rankings through aggressive expansion across Asia, Europe, and Africa from its Doha hub, adding new freighter destinations and increasing belly cargo capacity on passenger routes.

5. Atlas Air

Despite having the largest volume increase in its class, its 11,942 CTK still placed it fifth globally in 2024. Atlas Air remains the world’s largest ACMI (Aircraft, Crew, Maintenance, Insurance) cargo provider in 2026, leveraging fleet modernization and contractual operations with DHL, Amazon, and other major logistics firms.

6. Cathay Pacific Cargo

Handles high freight volumes to North America and Europe from its Hong Kong hub, standing out for strong local operational efficiency across Asia-Pacific routes.

7. Cargolux

A major dedicated freighter operator and one of the largest all-cargo carriers globally, competing directly with integrators for heavy and specialized cargo capacity.

8. Korean Air Cargo

Post-merger with Asiana, Korean Air’s combined cargo operations give it substantially expanded capacity and network reach across Asian and international freight routes.

9. DHL (Aviation)

Part of the “Big Three” integrators alongside FedEx and UPS, controlling the entire logistics chain from collection to final delivery through combined air and ground networks.

10. Turkish Cargo

A rapidly-expanding cargo carrier leveraging Istanbul’s strategic geographic position to connect European, Asian, and African freight routes.

What This Means for Procurement Teams

Passenger-to-freighter conversions are reshaping available capacity. P2F conversions now account for over 65% of freighter fleet growth globally — sponsors planning long-term air cargo capacity should track which carriers are investing heavily in converted versus purpose-built freighters, since this affects both cost and available capacity types.

ACMI providers offer flexibility outside the major carrier contracts. Atlas Air’s dominant ACMI position means sponsors needing scalable capacity without long-term carrier commitments have a genuine alternative path — worth evaluating for volatile or seasonal freight volume.

Belly capacity versus dedicated freighter matters for shipment type. Carriers like Emirates SkyCargo lean heavily on widebody belly capacity, while others like Cargolux operate dedicated freighters — match carrier selection to your cargo’s size, urgency, and handling requirements rather than defaulting to whichever carrier is largest overall.

FAQ

What does FTK mean in air cargo rankings?

Freight Ton Kilometers (FTK) is the standard industry metric measuring one tonne of freight carried over one kilometer — used by IATA to rank cargo airlines by combining both weight and distance flown.

What’s the difference between an integrator and a traditional cargo airline?

Integrators like FedEx, UPS, and DHL operate door-to-door express delivery combining air and ground transport under one company, controlling the entire logistics chain, while traditional cargo airlines like Cargolux or Cathay Pacific Cargo primarily handle the air freight leg.

What is an ACMI cargo provider?

ACMI stands for Aircraft, Crew, Maintenance, and Insurance — a wet-leasing arrangement where a cargo airline like Atlas Air provides complete aircraft operation on behalf of another company, offering scalable capacity without long-term ownership commitments.

Sources

• Safe Fly Aviation, Top 20 Cargo Airlines in the World 2026
• Aviation A2Z, Top Cargo Airlines in the World 2026
• FreightAmigo, Top Air Cargo Carriers 2026: Rankings & Growth
• Private Jets Connect, Top 10 Global Air Freight Companies in 2026