Mexico Air Cargo Falls 5.2%, Hit by Tariffs, Slow Economy

Between January and April 2025, Mexico’s air cargo sector reported a 5.2% year-on-year decline, moving 282,278.9 tons during the period, according to data from the Federal Civil Aviation Agency (AFAC). This drop was primarily driven by a 6.8% contraction in international cargo, which fell to 193,449.7 tons, down from 207,503.6 tons in the same period last year.

“We are seeing a more pronounced slowdown in Mexico compared to the global industry. That is a warning signal,” said Fabricio Cojuc, an international aviation consultant.

Among the country’s key air cargo hubs, Felipe Ángeles International Airport (AIFA) experienced the steepest decline, handling 87,548.2 tons in Q1 2025—a 16.5% drop compared to 104,857.5 tons in 1Q24. In contrast, Mexico City International Airport (AICM) saw a 7.1% increase, reaching 61,317.1 tons.

The disparity in performance between AIFA and AICM may relate to differences in cargo management. “The industry seems to be maximizing belly cargo capacity at AICM since freighter aircraft are no longer allowed there, potentially diverting some volume from AIFA,” Cojuc explained.

Although air cargo represents only about 2% of total freight movement in Mexico, its role in transporting high-value goods—such as electronics and automotive components—makes it a key economic indicator. “Trade policy volatility creates tension in markets, which translates into air logistics,” according to Julio Zugasti, aviation law expert, Hogan Lovells.

“The impact of new tariffs on significantly reducing the U.S. trade deficit and improving economic conditions remains uncertain. However, they are expected to reduce demand for air freight,” noted Herman Tse, Valuations Manager, Cirium Ascend Consultancy.

Performance across airports varied widely. Despite its 16.6% year-on-year decline, AIFA remained Mexico’s top airport for international cargo. AICM recorded a 7.6% growth in international cargo, reaching 48,573.7 tons, while Guadalajara posted a marginal increase of 0.8% to 29,782.6 tons. Monterrey reported a 5.1% decline, and Cancun saw a slight 0.1% drop.

Domestic air cargo fell by 1.7%, totaling 88,829.2 tons. Queretaro led domestic performance with a 6.4% increase, handling 12,903.7 tons, followed closely by AICM, which grew 5.6% to 12,743.4 tons. Conversely, Guadalajara recorded an 8.2% decline to 10,275.1 tons. Airports experiencing significant domestic declines included Toluca (−26.3%), San Luis Potosi (−12.4%), Merida (−7.7%), Hermosillo (−4.7%), and Tijuana (−2.3%).

Queretaro continues to be a domestic logistics hub due to its e-commerce activity. “It is a cargo hub for parcel delivery companies like Mercado Libre and Amazon. There is robust activity,” said Cojuc. Monterrey also showed growth, particularly in March, driven by increased activity from Viva.