Global air cargo demand rises in October despite mixed regional trends

Global air cargo demand, measured in cargo tonne-kilometres (CTK), grew 4.1 per cent compared with October 2024, supported by a 4.8 per cent rise in international operations, according to data released by the International Air Transport Association (IATA).

Capacity increased by 5.1 per cent year-on-year (YoY), with international capacity up 6.4 per cent.

The broader operating environment showed improving momentum. Global goods trade expanded 3 per cent YoY in September, while industrial production rose 3.7 per cent—its fastest pace since March 2025 and the strongest monthly reading since late 2022. Manufacturing sentiment improved for a third consecutive month, with the PMI reaching 51.45. However, new export orders remained weak at 48.31 amid continued tariff uncertainty.

Fuel dynamics added pressure to operators. Jet fuel prices rose 2.5 per cent in October despite falling crude benchmarks, as a tightening diesel market pushed the jet crack spread to nearly double its level last year, IATA said in a release.

Asia–Pacific carriers led global growth, posting an 8.3 per cent YoY rise in demand alongside a 7.3 per cent capacity increase. African airlines delivered the strongest overall performance, with demand surging 16.6 per cent and capacity up 20 per cent.

The weakest results came from North America and Latin America, both recording a 2.7 per cent contraction in cargo demand. North American capacity edged up 0.1 per cent, while Latin America saw a 2.8 per cent rise.

European airlines registered a 4.3 per cent increase in demand, matching the 4.3 per cent growth in capacity. Middle Eastern carriers achieved a 5.7 per cent rise in demand, though capacity expanded more rapidly at 10 per cent.

Air freight volumes expanded across most major corridors in October. Europe–Asia delivered the strongest double-digit growth, supported by solid momentum on Middle East–Asia, Africa–Asia and Within Asia lanes. Europe–North America saw modest positive growth, while Europe–Middle East was broadly unchanged. The only significant declines were recorded on North America–Asia routes and within Europe.

“Air cargo demand grew 4.1 per cent YoY in October, marking the eighth consecutive month of expansion and setting a new monthly record for volumes. While the Asia-North America trade lane extended its contraction to six months, October saw double-digit or near double-digit growth within Asia, between the Middle East and Europe, and between Europe and Asia. This shifting growth pattern shows that air cargo is enabling global supply chains to adapt to the impact of US tariffs. This positive news is especially significant as the air cargo sector enters the peak fourth quarter shipping season,” said Willie Walsh, IATA’s director general.

ALCHEMPro News Desk (HU)