A fan datasheet usually lists airflow in CFM or m³/h, which is a volumetric measurement. The thermal value of that airflow depends on how much air mass passes through the heat source per unit time. At altitude, the same volumetric flow contains less air mass and therefore carries less heat.
Under International Standard Atmosphere assumptions, air density is approximately 86% of sea-level density at 5,000 ft, 74% at 10,000 ft, 63% at 15,000 ft, 53% at 20,000 ft, and 45% at 25,000 ft. A 100 CFM flow at 15,000 ft therefore carries about 63% of the sea-level air mass under the same temperature model. Actual values depend on temperature, humidity, and the atmosphere definition used by the program.
Altitude derating becomes a first-order design issue when the platform operates above 10,000 ft for sustained periods. Treating it as a late correction often results in a fan that has adequate sea-level margin but insufficient airborne margin.
Temperature can complicate the calculation. Colder ambient air at altitude may reduce the heat sink inlet temperature, but that benefit does not automatically cancel the density loss. The thermal model needs both effects: the reduced air mass available for convection and the actual ambient temperature profile defined by the mission.
Engineering answer: At low pressure, volumetric airflow and cooling capacity should not be treated as the same value. Reduced air density lowers heat capacity per unit volume and changes pressure performance, so high-altitude fan selection should be reviewed by operating point, air density, thermal load, enclosure resistance, and model-specific speed behavior.