AIR CARGO OVERVIEW

Rapid Development and Future Prospects of Air Cargo in Central Asia, the Caspian Region, and the Caucasus

Market Review — July 2026

Independent sector overview based on publicly available airport, regulator, airline and industry data.

Table of Contents

Development of Air Cargo

Air cargo across Central Asia, the Caspian region and the Caucasus is entering a more operationally substantive phase. Geography remains the foundation: the region lies between the manufacturing and e-commerce markets of East and South Asia and the consumption, distribution and industrial markets of Europe. What increasingly differentiates the current cycle is the emergence of functioning cargo terminals, locally based freighter fleets, regular intercontinental services and airport projects designed around multimodal logistics rather than passenger traffic alone.

The global market backdrop remains supportive. IATA reported that worldwide cargo tonne-kilometres reached a record level in 2025, rising 3.4% year on year. Demand was still expanding in May 2026, when global CTKs increased 6.0%; the Europe-Asia trade lane grew 10.0% and had recorded 39 consecutive months of expansion. Boeing expects global air cargo traffic to grow by an average of 4% annually through 2043, while Airbus forecasts 3.3% annual growth through 2044 and a 45% increase in the dedicated freighter fleet. These projections are particularly relevant to a region whose operator growth is dominated by converted Boeing 737, 757, 767 and Airbus A330 freighters rather than by large orders for new-build aircraft.

The regional market is not uniform. Kazakhstan has the largest publicly disclosed airport cargo system in Central Asia and is building its role as a transit, technical-stop, handling and multimodal platform. Uzbekistan has the strongest indigenous freighter growth story, combining a new high-capacity terminal in Tashkent with a rapidly expanding private airline sector. Azerbaijan already hosts a mature long-haul cargo operator and is investing in a new airport-centered logistics ecosystem at Alat. Georgia and Armenia are smaller markets but recorded strong or sustained cargo volumes in 2025, while Kyrgyzstan and Turkmenistan retain strategically useful heavy-freighter and long-haul cargo capabilities despite limited public traffic disclosure.

The central market shift. Competition is moving beyond geography. The decisive variables are now route density, terminal utilization, customs speed, digital documentation, specialized handling, aircraft economics and the quality of road-and-rail connections behind the airport.

Overview

The latest disclosed figures illustrate both the scale and the statistical fragmentation of the market. Kazakhstan’s airports handled 173.3 thousand tonnes in 2025, up from 170.9 thousand tonnes in 2024. Uzbekistan’s airport system handled 98,137 tonnes of cargo and mail in 2025, following 95,049 tonnes in 2024. Georgia’s airports reached a record 38,578 tonnes in 2025, 50% above 2024, while Yerevan Zvartnots Airport handled 42,679 tonnes of cargo and mail. These four disclosed systems alone accounted for more than 352 thousand tonnes, excluding Azerbaijan, Kyrgyzstan and Turkmenistan, for which directly comparable current airport-system totals were not identified in accessible public reporting.

Sources: national aviation authorities, airport operators and official statistical reporting. Metrics are the latest disclosed airport-system or airport-specific cargo/mail totals and are not fully harmonized.

Key Factors Driving Growth

Economic and Regulatory Environment

Trade diversification and the search for resilient Eurasian supply chains continue to support the region’s relevance. The Middle Corridor and related Trans-Caspian routes do not replace the largest established global gateways, but they offer shippers and carriers additional routing options when capacity, sanctions, conflict, airspace restrictions or congestion reshape conventional lanes. The strongest opportunities are in time-sensitive e-commerce, mail, pharmaceuticals, perishables, automotive components, machinery, high-value goods and project cargo rather than in indiscriminate competition for low-yield general freight.

Regulatory competitiveness is becoming more visible. Kazakhstan is extending e-Freight and cargo-security cooperation; Uzbekistan is granting Navoi Airport greater commercial autonomy and creating a porto-franco customs regime; Azerbaijan is integrating the Alat Free Economic Zone with aviation, port, rail and road infrastructure. The value of these initiatives depends on operational execution: harmonized data exchange, customs pre-clearance, predictable transfer times and transparent commercial rules.

Infrastructure Development

The most important completed project is the new UzCargo terminal at Tashkent International Airport, opened in March 2025 with a design capacity of 120,000 tonnes per year. The facility has removed a material bottleneck from Uzbekistan’s largest gateway. At the same time, construction and modernization programs are widening the infrastructure map: Navoi is being repositioned around cargo, technical services and a free customs zone; Urgench is moving into a $134 million public-private modernization program; Kazakhstan is upgrading cargo-capable aprons and logistics facilities at Almaty, Aktobe and Aktau; Kutaisi is building a 3.5-kilometre Code F runway; and Azerbaijan’s Alat project is creating a new dedicated cargo airport and logistics village.

Fleet Expansion

Fleet growth is led by three different models. Uzbekistan is building a private converted-freighter platform centered on My Freighter and complemented by newer operators. Kazakhstan has a smaller domestic all-cargo fleet but is broadening it: Alpha Sky operates Boeing 737 and 757 freighters, while SCAT Airlines announced in July 2026 an agreement to convert a Boeing 767-300ER into the first 767-300BCF to operate in Kazakhstan. Azerbaijan is renewing an established intercontinental fleet with Boeing 777Fs and future Airbus A350F and Boeing 777-8F deliveries. Georgia has developed a diversified cargo-operator base using Boeing 737 and 767 aircraft, while Kyrgyzstan and Turkmenistan continue to rely on specialized or state-owned widebody freighters.

Strategic Partnerships and International Collaborations

International partnerships increasingly connect local capacity with global networks. My Freighter has built interline relationships with Chinese, European and North American carriers; Silk Way West is combining its global route network with Azerpost’s last-mile and e-commerce capabilities; the Silk Way Group and dnata are forming the handling platform for Alat; and Kazakhstan is using Cargolux and Sichuan Airlines services to re-establish Astana as an East-West technical and commercial cargo point. These arrangements reduce the commercial isolation of regional operators and allow them to sell network reach beyond their own aircraft routes.

Untapped Market Potential

The largest remaining opportunity is to convert transit geography into repeatable cargo ecosystems. This requires more than technical landings. Airports must create sufficient local and transfer volumes to support regular loading and unloading, provide bonded trucking and road feeder services, develop cold-chain and dangerous-goods capability, and integrate airport schedules with rail, road, postal and customs systems. The gap between available infrastructure and disclosed throughput at several airports indicates that commercial utilization, not runway capacity alone, will determine investment returns.

Future Prospects

Enhancing Connectivity

Connectivity is improving in two directions. First, Uzbekistan-based carriers are building hub-and-spoke flows through Tashkent between China, Southeast Asia and Europe. Second, passenger network expansion across Central Asia and the Caucasus is creating additional belly capacity, particularly at Almaty, Astana, Tashkent, Baku, Tbilisi and Yerevan. Dedicated freighters will remain essential for dense e-commerce, oversized cargo, dangerous goods, temperature-sensitive shipments and routes whose schedules or payloads cannot be supported efficiently in passenger aircraft.

Leveraging Geopolitical Shifts

Geopolitical disruption has increased the strategic value of alternative corridors, but it also creates operational risk. Traffic can shift quickly when airspace, sanctions, security conditions or fuel costs change. Airports that rely mainly on technical stops are particularly exposed to rerouting. More durable cargo positions will be built where transit services are combined with local exports, imports, postal flows, regional distribution and value-added logistics.

Sustainability and Technological Advancements

The fleet mix creates a two-speed sustainability picture. New-generation Boeing 777Fs and planned A350Fs improve fuel efficiency at the top end of the market, while converted 737, 757, 767 and A330 aircraft provide economical capacity growth but differ substantially in age and emissions performance. Digital cargo processes can create more immediate gains: electronic air waybills, pre-arrival customs data, slot and warehouse coordination, track-and-trace, automated screening and integrated billing reduce dwell time and improve aircraft utilization. Kazakhstan’s reported reduction in cargo processing time from 24 hours to one hour through e-Freight illustrates the scale of potential operational improvement.

Soaring into the Future

The region is unlikely to consolidate around a single universal hub. A more plausible structure is a network of differentiated nodes: Baku for mature long-haul freighter operations and future multimodal scale; Tashkent for locally based freighter growth and Asia-Europe consolidation; Astana and Almaty for handling, technical stops, belly capacity and Kazakhstan’s domestic logistics system; Kutaisi and Tbilisi for Caucasus cargo growth; Zvartnots for Armenia’s compact import-export gateway; Manas for heavy charter capability; and Ashgabat for state-led long-haul cargo operations. Competitive advantage will come from specialization and reliable interconnection between these nodes.

Uzbekistan

Overview and Statistics

Uzbekistan is the region’s most dynamic indigenous air-cargo growth market. The country’s airports handled 98,137 tonnes of cargo and mail in 2025, up from 95,049 tonnes in 2024. Tashkent International Airport accounted for the majority of this activity: its cargo terminal processed 88,080 tonnes in 2025 and 48,189.6 tonnes in the first half of 2026, a 33.2% year-on-year increase. The result shows that the new terminal is not merely reserve capacity; it is already supporting a significant acceleration in throughput.

The sector’s growth is unusually balanced by regional standards. Uzbekistan combines airport capacity, multiple locally based cargo operators, a widening scheduled freighter network, strong China-facing traffic, growing European links and government-backed multimodal investment. The principal challenge is now to preserve service quality while traffic and the number of operators expand, and to ensure that customs, warehouse and road access scale at the same pace as aircraft capacity.

Key Infrastructure Developments

Tashkent International Airport Cargo Complex

The UzCargo terminal opened in March 2025 on a 5.2-hectare site. It includes an 8,500-square-metre warehouse, around 500 square metres of refrigerated and freezer space, specialized rooms for plants, live animals, food and pharmaceuticals, modern storage and packaging systems, and a three-storey administrative building housing customs, quarantine and declaration functions. Its design capacity of 120,000 tonnes per year is four times that of the former 30,000-tonne facility.

Operationally, the terminal provides Uzbekistan with a credible consolidation platform for import, export, transit and postal flows. Its 2025 volume represented approximately three quarters of design capacity, while the first-half 2026 result points to continued growth. The next competitive priorities are higher warehouse automation, additional covered handling areas, deeper cold-chain capability and tightly managed landside truck flows.

Navoi Airport Expansion

Navoi remains strategically important because it combines a long runway, existing cargo infrastructure, industrial activity and available development land. In February 2026, the government set a new commercial framework: the airport is to negotiate independently with local and foreign airlines for cargo, transit and technical landings, modernize cargo and passenger terminals, digitalize operations and establish a porto-franco free customs zone focused on aircraft technical and commercial services. The business plan targets more than 25 regular airlines and cargo handling above 20,000 tonnes.

This approach is more credible than treating Navoi as a stand-alone transfer airport. The strongest development case integrates cargo handling with maintenance, aircraft painting, spare-parts logistics, free-zone manufacturing and road-and-rail distribution. Success will depend on attracting stable anchor customers and avoiding duplication with Tashkent’s rapidly growing hub role.

Urgench Airport Upgrades

Urgench is moving from runway rehabilitation toward a broader public-private modernization. The government selected Incheon International Airport Corporation to modernize and manage the airport, and a $134 million PPP agreement was reported in the first quarter of 2026. The project framework includes a new 3,500-metre runway, apron and taxiway works, new passenger infrastructure and a dedicated cargo terminal. The airport’s location in the Khorezm tourism and agricultural region gives the cargo element a practical export role, particularly for perishables and time-sensitive regional products.

Airlines Developments and New Routes

Uzbekistan Airways

Uzbekistan Airways remains important to the cargo market through belly capacity, international connectivity and the wider national aviation ecosystem. Passenger growth across the country’s airports increases available lower-deck space on scheduled routes, creating a cost-effective channel for smaller consignments, pharmaceuticals, mail, express cargo and higher-value exports. The carrier’s role is complementary to the dedicated freighter sector rather than a substitute for it.

My Freighter

My Freighter is the largest locally based cargo operator in Central Asia by publicly disclosed fleet size. Its tenth aircraft, a Boeing 767, joined the fleet in April 2026. The carrier has shifted from predominantly charter activity toward a broader scheduled network that uses Tashkent as a transfer and consolidation point.

The Shanghai-Tashkent-Amsterdam service, launched in August 2025, operates twice weekly with Boeing 767-300F aircraft and provides a direct manufacturing-to-European-gateway link via Uzbekistan. In March 2026 the airline added Hanoi-Tashkent-Frankfurt, Bangkok-Tashkent-Frankfurt, Almaty-Tashkent-Frankfurt and Tashkent-Frankfurt services. It has also developed routes to Hangzhou, Urumqi, Karachi and other Asian markets. This network gives Uzbekistan a commercially meaningful role in China-Europe and Southeast Asia-Europe cargo flows rather than a purely geographic claim to hub status.

SpaceBee, SkyGuard and the Emerging Operator Base

Uzbekistan’s cargo market is becoming more competitive. SpaceBee operates a Boeing 767-200 freighter platform from Tashkent and Navoi and markets services linking China, India, Bangladesh and Vietnam with Europe and CIS markets. SkyGuard operates Boeing 757 freighters focused on mail, e-commerce, pharmaceuticals, perishables and general cargo. Together with Fly Khiva and other emerging operators, these airlines broaden route experimentation and charter availability, while increasing the importance of regulatory oversight, crew supply, maintenance access and disciplined capacity deployment.

Fly Khiva

Fly Khiva provides a second visible widebody cargo platform. In January 2026 it launched a Europe-Central Asia-Asia corridor with three weekly Riga-Karaganda-Hong Kong services and one weekly Riga-Tashkent-Hong Kong service. The network is particularly relevant to postal and e-commerce logistics because it links Baltic customs and distribution infrastructure with Central Asian gateways and Hong Kong. Fly Khiva’s cooperation with Navoi Airport also provides a potential base for maintenance and longer-term cargo development outside Tashkent.

New International Partnerships

Partnerships are extending Uzbekistan’s effective network beyond the destinations served by its own aircraft. My Freighter has announced interline arrangements with China Southern, SF Airlines, Loong Air, Juneyao Air, Air Serbia and Cargojet, among others. The commercial logic is clear: Chinese partners feed manufacturing and e-commerce origins; European partners expand regional distribution; and North American interline access improves reach without requiring immediate own-metal services.

Airports and logistics investors are also broadening the ecosystem. A $288 million multimodal logistics terminal is planned in Tashkent with DP World, while transport and dry-port projects are being developed in Tashkent, Navoi and Namangan. These investments can support bonded trucking, rail-air transfers, warehousing and customs processing, giving freighter operators a larger addressable market than airport-to-airport traffic alone.

Strategic Liberalization and Future Prospects

Uzbekistan’s strategic advantage is the combination of policy liberalization and private operating capacity. The country has encouraged new airlines, opened additional bilateral opportunities and given selected airports greater commercial autonomy. The most important policy task is now consolidation: ensuring that safety oversight, slot allocation, customs systems, ground handling and airport charges remain transparent as traffic expands.

The medium-term opportunity is to build a two-airport system in which Tashkent handles high-frequency scheduled flows and Navoi specializes in technical services, industrial logistics, maintenance-linked cargo and selected long-haul operations. Urgench and Namangan can add regional export gateways. The main downside risk is fragmented investment without sufficient anchor traffic; the strongest projects will be those tied to committed airlines, shippers and distribution contracts.

Air Silk Road Initiative

The Air Silk Road concept is becoming tangible through route density rather than branding alone. China-linked services now connect Tashkent and other Uzbek airports with Shanghai, Hangzhou, Urumqi and additional production centers, while interline agreements provide access to wider domestic Chinese networks. Westbound services to Amsterdam and Frankfurt complete a functional air bridge through Uzbekistan.

The next phase should integrate this air network with rail and road corridors. Uzbekistan is developing dry ports and logistics centers, advancing the China-Kyrgyzstan-Uzbekistan railway and improving links between airports and industrial zones. Air cargo will capture the highest-value and most time-sensitive portion of these flows, while rail and road provide feeder, consolidation and lower-cost alternatives. The value of the initiative therefore lies in modal coordination, not in air transport operating in isolation.

Kazakhstan

Kazakhstan remains the largest publicly disclosed airport cargo market in Central Asia. Its airports handled 173.3 thousand tonnes in 2025, compared with 170.9 thousand tonnes in 2024, and approximately 50 thousand tonnes in the first four months of 2026. The country’s scale, industrial base, long borders and central position on Eurasian corridors create a broad cargo market, but the current model is more dependent on airport handling, belly capacity and foreign transit operators than Uzbekistan’s locally based scheduled freighter model.

Growth and Expansion

Kazakhstan has designated Astana, Almaty, Shymkent, Karaganda, Aktau and Aktobe as aviation hubs and is differentiating their roles. Astana is re-emerging as a technical-stop and potential cargo-handling point on Europe-Asia routes. Almaty is the country’s largest commercial aviation market and is adding airside capacity. Aktobe and Aktau are developing logistics and Code F capabilities, while Karaganda retains a long-term multimodal cargo proposition. This distributed model reflects the country’s geography but requires clear specialization to prevent fragmented investment.

Transit Route Development

Cargolux resumed Astana operations on 1 June 2026 with plans for up to 14 weekly flights. The initial operation is based on technical stops for fuel and maintenance, with commercial cargo handling under consideration. Sichuan Airlines also began eight weekly Chengdu-Astana-Budapest cargo services with a technical stop in Astana. Together these services demonstrate strong demand for Kazakhstan’s location and fuel-stop economics, but the long-term value will depend on converting technical traffic into local loading, unloading, transfers and value-added handling.

Liberalization and International Agreements

Open-skies policies, fifth-freedom arrangements and bilateral expansion with China, Europe and other markets support Kazakhstan’s transit role. Cargo security is also moving higher on the agenda: U.S. Transportation Security Administration experts conducted an assessment visit in July 2026, including reviews at Astana and Almaty airports. Stronger recognition of Kazakhstan’s cargo-security regime would improve access to demanding international markets and support future direct services.

Alpha Sky, SCAT and Domestic Freighter Capacity

Alpha Sky is the principal established domestic all-cargo operator, with two Boeing 737-400Fs and one Boeing 757-200F. This is a useful regional and medium-haul fleet, suited to e-commerce, express, general cargo and charter operations, but it remains small relative to the national airport cargo market. On 20 July 2026 Boeing and SCAT Airlines announced an agreement to convert a Boeing 767-300ER into a 767-300BCF, enabling SCAT to launch general and express cargo operations with the first aircraft of this variant to operate in Kazakhstan. The development creates a credible path toward domestic medium-widebody capacity, although timing and commercial impact will depend on conversion, certification and route deployment.

Digitalization and Cargo Processes

Kazakhstan’s strongest operational reform is e-Freight. The Aviation Administration reports that electronic processing has reduced cargo formalities from 24 hours to one hour. Continued integration with customs and other government systems can reduce dwell time, improve shipment visibility and make Kazakhstan more attractive for time-sensitive transfer cargo. The next step is consistent adoption across airports, airlines, handlers and freight forwarders, with measurable service-level reporting.

Infrastructure Developments

Astana International Airport

Astana’s cargo opportunity is currently commercial rather than terminal-led. The return of Cargolux and the launch of Sichuan Airlines technical stops create frequency and international visibility. To turn these movements into a durable cargo business, the airport must develop competitive handling tariffs, fast customs procedures, warehouse capability and feeder connections to Kazakhstan’s industrial and consumer markets.

Almaty International Airport

Almaty is progressing with airside investments that include runway rehabilitation, a new taxiway, additional aircraft stands and a cargo apron. A separate apron-reconstruction project provides for two new ICAO Code F stands. These improvements are relevant to widebody cargo operations and to the growing belly capacity generated by Almaty’s passenger network.

Aktobe International Airport

Aktobe is developing a multifunctional logistics hub, with the first stage covering 15,000 square metres. Plans include modern warehouses, cold rooms for perishables and dangerous goods, special areas for valuable cargo and modernization of the fuel complex. The project’s value lies in combining airport access with western Kazakhstan’s industrial base and road-and-rail corridors.

Aktau International Airport

Aktau’s apron reconstruction is designed to allow unrestricted handling of Code F aircraft, creating additional potential for transit and heavy cargo operations on the Caspian coast. The airport’s strongest strategic role is as an air component of the Trans-Caspian system, linked to maritime and surface logistics rather than as an isolated airfreight hub.

Future Prospects

Kazakhstan’s cargo strategy is credible if it combines three layers: a large airport-handling market supported by passenger belly capacity; foreign intercontinental freighters using the country for technical and commercial stops; and a disciplined domestic cargo airline serving regional and multimodal flows. The key performance indicators should be the share of technical stops converted into handled cargo, transfer dwell time, local cargo generated per flight, utilization of new logistics facilities and growth in scheduled rather than one-off charter activity.

Turkmenistan

Turkmenistan’s air-cargo model is state-led and infrastructure-heavy. The country took delivery of two Airbus A330-200P2F freighters in 2023, giving Turkmenistan Airlines the first fleet of this type in Central Asia. Public flight records in 2026 show the aircraft supporting cargo links between Ashgabat and markets including Shenzhen, Frankfurt, Hanoi and Milan.

Turkmenistan Airlines

The A330P2F fleet provides a more efficient and flexible long-haul platform than older four-engine freighters and is suitable for general cargo, e-commerce, perishables and industrial shipments. The state carrier’s central challenge is commercial transparency: public information confirms the assets and route activity, but current national or airport-system cargo throughput is not disclosed in a comparable, regularly updated series. This makes it difficult to assess load factors, route profitability and terminal utilization.

Ashgabat Airport Infrastructure

Ashgabat International Airport has a 17,174-square-metre cargo terminal with five aircraft stands, import and export zones, cold rooms, mail, veterinary and plant-control areas, dedicated storage for valuables and dangerous goods, and customs facilities. The infrastructure is suited to specialized and transit cargo. The strategic priority should be publishing consistent traffic data and integrating airport operations with regional road, rail and customs networks so that physical capacity produces measurable commercial flows.

Kyrgyzstan

Kyrgyzstan occupies a specialized niche rather than a large disclosed national cargo market. Manas International Airport provides heavy-aircraft handling capacity and serves as the base for AeroStan, a charter cargo operator with three Boeing 747-200F aircraft. The country’s location near western China and its role in regional road trade support ad-hoc, project, humanitarian, e-commerce and oversized cargo opportunities.

Manas Cargo Center

The Manas cargo center is rated at up to 100,000 tonnes per year and operates around the clock. It includes refrigerated and freezing chambers, a dangerous-goods area and the ability to load or unload two large aircraft such as Boeing 747s, An-124s or Il-76s simultaneously. This is substantial infrastructure relative to the size of the disclosed market. The commercial objective should be to increase regular traffic and regional distribution while maintaining the airport’s heavy-charter specialization.

AeroStan

AeroStan’s three Boeing 747-200Fs give Kyrgyzstan distinctive outsized and long-range charter capability. The fleet can serve missions that are not easily accommodated by narrowbody or medium-widebody freighters. Its main risk is aircraft age: maintenance economics, spare-parts availability, environmental performance and operational reliability will increasingly determine competitiveness. Fleet renewal or partnerships with operators of newer widebody aircraft will become important over the medium term.

Azerbaijan

Azerbaijan has the most mature long-haul cargo-airline platform in the wider region. Baku’s location between Europe and Asia, the scale of Silk Way West Airlines and the integration of aviation with the Alat Free Economic Zone give the country a different market profile from Central Asian states that are still building indigenous freighter networks.

Silk Way West Airlines

Silk Way West took delivery of its fourth Boeing 777 Freighter in February 2026, the fourth of six ordered. The remaining two are expected in 2027. After phasing out two Boeing 747-400Fs, the airline’s total fleet stood at 12 aircraft. From 2028, the next renewal phase is planned to add four Airbus A350Fs and four Boeing 777-8Fs, taking the fleet to 20 widebody aircraft by 2030. This program combines replacement of older aircraft with capacity growth and lower unit fuel burn.

The carrier’s hub in Baku provides connectivity across Europe, Asia, the Middle East and the Americas. Long-standing operations to Japan and other Asian markets support higher-value industrial and time-sensitive cargo, while partnerships extend the network into postal and e-commerce distribution. The 2025 memorandum with Azerpost provides for cooperation in international and domestic delivery, sorting, warehousing and last-mile logistics, including a planned 12,000-square-metre automated e-commerce terminal.

Alat International Airport and Cargo Village

The Alat project is the region’s largest dedicated cargo-infrastructure development. The airport is planned with a 4,000-metre runway, 18 aircraft stands and direct integration with the Baku International Sea Trade Port, railways and motorways. A Silk Way Group-dnata joint venture will provide cargo and ground handling when the new terminal opens in April 2027. The logistics facilities are designed for more than 400,000 tonnes per year, with an expected 5% annual volume growth over the following decade.

Alat’s commercial logic is stronger than a stand-alone airport project because it is embedded in a free economic zone and linked to sea, rail and road transport. The principal execution risks are schedule, customer migration from existing facilities, phased utilization and coordination among the airport, free zone, port, customs and logistics operators. If those elements are aligned, Alat can become the leading multimodal cargo platform in the Caspian region.

Future Plans

Azerbaijan’s next stage is defined by scale and integration rather than market entry. Priorities include absorbing the new 777F capacity, preparing for A350F and 777-8F deliveries, commissioning Alat on schedule, developing e-commerce and postal flows, and maintaining Baku’s role in high-value intercontinental freight. The country is well positioned, but the size of the investment program makes disciplined phasing and customer commitments essential.

Georgia

Georgia’s air-cargo market recorded one of the strongest growth rates in the region in 2025. The country’s airports handled 38,578 tonnes, 50% more than in 2024. January 2026 continued the momentum with 3,147 tonnes, up 38.75% year on year. These figures place Georgia well above the profile of a purely niche cargo market and reflect both operator capacity and the country’s role as a Caucasus gateway.

Cargo Airlines and Fleet

Georgia has a diversified cargo AOC base. The Civil Aviation Agency lists Camex Airlines and Georgian Airlines as cargo operators and several mixed passenger-cargo operators. The national aircraft register at the start of 2026 showed Camex with Boeing 737-800 and Boeing 767-300 aircraft, Geo Sky with several Boeing 767-300 series aircraft, and Georgian Airlines with 737 and 767 equipment. This provides narrowbody regional flexibility and widebody capacity for longer-haul or ACMI operations.

Camex’s operating model combines scheduled charters, ad-hoc charters and ACMI services. The company’s published fleet information is not fully consistent across its website, but the Georgian register confirms a mixed 737/767 platform. Geo Sky has diversified into passenger operations through Georgian Wings, while its registered widebody aircraft preserve potential for cargo and ACMI activity. The broader market opportunity is to translate fleet availability into regular routes and stable utilization rather than relying heavily on short-term charter demand.

Airport Infrastructure

Kutaisi International Airport is building a new 3.5-kilometre runway and related airfield infrastructure. The project will give the airport Code F capability, allow unrestricted operation of large aircraft and support future development of a logistics center and cargo terminal. Construction was reported to be in an active phase in late 2025 and remained part of Georgia’s aviation infrastructure program in 2026.

Tbilisi remains the principal commercial cargo gateway, supported by the country’s largest passenger network and the base operations of Georgian cargo carriers. Kutaisi can complement Tbilisi by offering greenfield logistics space and large-aircraft capability. The strategic risk is overbuilding before anchor cargo flows are secured; phased terminal development tied to airline and forwarder commitments would reduce that risk.

Armenia

Armenia’s air-cargo market is concentrated at Yerevan Zvartnots International Airport. The airport handled 42,679 tonnes of cargo and mail in 2025, slightly above 42,235 tonnes in 2024 and substantially higher than 23,340 tonnes in 2022. This sustained growth makes Armenia a more significant cargo gateway than its small domestic market might suggest.

Zvartnots Cargo Terminal

The cargo terminal covers approximately 10,000 square metres and is designed to handle more than 45,000 tonnes annually. It includes 2,500 square metres of cold storage, temperature-controlled rooms from +25°C to -20°C, 24-hour handling, customs warehousing and facilities for dangerous goods, live animals, perishables, valuables and human remains. The 2025 throughput indicates high utilization of the stated terminal capacity, strengthening the case for process optimization and selective expansion.

International Connectivity

Yerevan remains part of Lufthansa Cargo’s station network, while a growing passenger route portfolio supplies additional belly capacity. New or expanded 2026 links to Tashkent, Almaty, Dushanbe and other regional destinations improve Armenia’s access to Central Asian markets and onward networks. The market is therefore increasingly supported by a blend of specialist cargo handling, belly freight and interline connectivity rather than a large home-based dedicated freighter fleet.

The highest-value opportunities are pharmaceuticals, perishables, precious and high-value goods, express shipments, electronics and time-sensitive imports. With terminal utilization already high, Armenia’s priorities should be warehouse productivity, cold-chain performance, digital customs and predictable road-feeder connections to major European and Middle Eastern gateways.

Conclusion

Air cargo in Central Asia, the Caspian region and the Caucasus has developed into a differentiated network of markets rather than a single corridor story. The strongest evidence is operational: record or rising cargo volumes in Kazakhstan, Uzbekistan, Georgia and Armenia; the commissioning of Tashkent’s new terminal; My Freighter’s scheduled Asia-Europe network; the return of major transit operators to Astana; Silk Way West’s fleet renewal; and the construction of large-aircraft and multimodal infrastructure at Alat, Kutaisi, Almaty, Aktobe, Aktau, Navoi and Urgench.

Each market now has a distinct strategic role. Uzbekistan is building the region’s most active locally based freighter ecosystem. Kazakhstan combines the largest disclosed Central Asian airport market with transit, handling and digitalization strengths. Azerbaijan operates the leading mature widebody cargo airline and is creating the largest dedicated multimodal airport project. Georgia is emerging as a meaningful cargo market with multiple operators and Code F infrastructure under development. Armenia has a compact but highly utilized gateway. Kyrgyzstan retains specialized heavy-charter capability, while Turkmenistan has modern state-owned widebody freighters and substantial airport infrastructure but limited public traffic transparency.

The next phase will be decided less by announcements and more by repeatable logistics performance. The most important measures are scheduled route frequency, freighter utilization, handled cargo per movement, transfer and customs dwell time, warehouse productivity, cold-chain quality, digital document adoption, the share of technical stops converted into commercial handling, and the volume of cargo generated by local industry and e-commerce. Airports and airlines that publish these indicators and build services around shipper requirements will be better positioned to attract durable traffic.

Strategic outlook.

The region’s opportunity is not to replicate one global mega-hub. It is to build an interconnected system of specialized gateways that can offer credible alternatives, efficient regional distribution and reliable links between Asian production, Eurasian transit routes and European markets.

References

[1] IATA, “Global Air Cargo Demand Achieved Record Volume in 2025,” 29 January 2026.
[2] IATA, “Air Cargo Demand Up 6.0% in May,” 29 June 2026.
[3] Boeing, “World Air Cargo Forecast 2024–2043,” November 2024.
[4] Airbus, “World freighter fleet to grow 45% by 2044,” 22 October 2025.
[5] Aviation Administration of Kazakhstan, “Development of Civil Aviation in Kazakhstan: 2025 Results and Key Priorities for the Future,” 2026.
[6] Aviation Administration of Kazakhstan, “Development of Kazakhstan’s Civil Aviation Discussed at Government Meeting,” 19 May 2026.
[7] Government of Kazakhstan, “Cargolux Resumes Flights to Kazakhstan and Plans Up to 14 Flights per Week,” 28 May 2026.
[8] CentralAsia+Aero, “New transit cargo carrier arrives at Astana Airport,” 6 June 2026.
[9] My Freighter, “Welcoming our 10th aircraft Boeing 767 ‘Abdulla Qodiriy’,” 17 April 2026.
[10] Alpha Sky Airlines, company and fleet information.
[11] Aviation Administration of Kazakhstan, “TSA Cargo Security Experts Begin Introduction Visit to Kazakhstan,” 13 July 2026.
[12] IFC, “Almaty Airport II” project disclosure; Almaty city environmental project notice for two Code F stands.
[13] Government of Kazakhstan and Aviation Administration of Kazakhstan, Aktobe logistics hub and Aktau apron modernization updates, 2025–2026.
[14] President of Uzbekistan, “Plans on infrastructure development in Tashkent discussed,” 16 October 2025.
[15] President of Uzbekistan, “President reviews proposals to develop the transport and logistics system,” 1 July 2026.
[16] UzA, “In 2025, Uzbekistan’s airports served 15.5 million passengers,” 23 January 2026.
[17] UzA, “The number of passengers served by Uzbekistan Airports has increased,” 9 January 2025.
[18] Government of Uzbekistan, “Entrepreneurs introduced to the advantages of Uzbekistan Airports Cargo’s new terminal,” 2025.
[19] Gapim.uz, reporting from the Tashkent cargo-terminal press tour, 18 July 2026.
[20] My Freighter, “Scheduled Cargo Operations from Shanghai to Amsterdam,” 14 August 2025.
[21] My Freighter, “New International Cargo Routes Vietnam/Thailand–Tashkent–Frankfurt,” 27 March 2026.
[22] Fly Khiva, “Fly Khiva Launches a New Cargo Route from Europe to Central Asia,” 30 January 2026.
[23] President of Uzbekistan, “Measures to develop civil aviation discussed,” 2 February 2026.
[24] Government of Uzbekistan, Urgench International Airport PPP tender and project scope.
[25] Ministry of Economy and Finance of Uzbekistan, “Public-Private Partnership activities in the first quarter of 2026.”
[26] Ministry of Transport of Uzbekistan, Urgench airport modernization tender result, 18 April 2025.
[27] Silk Way West Airlines, “Receives fourth Boeing 777F as part of fleet renewal program,” 4 February 2026.
[28] Silk Way West Airlines, “Silk Way West Airlines and Azerpost sign memorandum…,” 17 November 2025.
[29] Silk Way Group and dnata, joint venture for Alat International Airport cargo operations, 22 October 2025.
[30] Silk Way West Airlines, “Caspian Air Cargo Summit 2025… landmark announcements,” 2025.
[31] Ministry of Economy and Sustainable Development of Georgia, 2025 cargo and January 2026 aviation results.
[32] Ministry of Economy and Sustainable Development of Georgia, Kutaisi runway and Code F infrastructure updates, 2025.
[33] Georgian Civil Aviation Agency, State Civil Aircraft Register as of 1 January 2026.
[34] Georgian Civil Aviation Agency, air carriers and AOC holders.
[35] Government of Turkmenistan, delivery of the second Airbus A330-200P2F, 27 April 2023.
[36] Hetq, based on Armenia Civil Aviation Committee data, “Zvartnots Airport Sets New Traffic Record in 2025,” 19 January 2026.
[37] Airports of Kyrgyzstan, Manas International Airport air cargo terminal.
[38] AeroStan, company fleet information.
[39] Zvartnots International Airport, cargo terminal specifications.
[40] Lufthansa Cargo, Yerevan (EVN) station details.
[41] Boeing, “Boeing will support SCAT Airlines in cargo operations launch,” 20 July 2026.
[42] Turkmenistan Airlines, Ashgabat International Airport cargo terminal presentation.
[43] Plane Finder, Airbus A330-200P2F EZ-F430 flight records, accessed 27 July 2026.
[44] Zvartnots International Airport, 2026 route announcements.
[45] SpaceBee Airlines, company and fleet information.
[46] SkyGuard, company and fleet information.

Information current to 27 July 2026. Publicly announced projects and future fleet deliveries remain subject to implementation, certification, financing and market conditions.