Air Cargo Demand Sets New Record in October, up 4.1%, Marking Eight Straight Months of Growth

Here’s a detailed breakdown of the IATA October 2025 Air Cargo Market Report.

Global Performance
- Total demand (CTK): Up 4.1% year-on-year compared to October 2024.
- International demand: Rose 4.8%.
- Capacity (ACTK): Increased 5.1% overall (+6.4% for international).
- Load factor (CLF): Slight decline of 0.5 percentage points, settling at 47.1%.
- This marks the eighth consecutive month of growth, setting a new monthly record for cargo volumes.

Regional Highlights
- Africa: Strongest growth at +16.6% demand, capacity up 20%.
- Asia-Pacific: Demand up 8.3%, capacity up 7.3%.
- Europe: Demand up 4.3%, capacity up 4.3%.
- Middle East: Demand up 5.7%, capacity up 10%.
- Latin America: Demand down 2.7%, capacity up 2.8%.
- North America: Demand down 2.7%, capacity nearly flat (+0.1%).

Trade Lane Trends
- Europe–Asia: +11.7%, continuing 32 months of growth.
- Middle East–Asia: +11.5%, eighth month of growth.
- Within Asia: +9.0%, 24 months of growth.
- Africa–Asia: +10.9%, fourth month of growth.
- North America–Asia: -1.4%, sixth month of decline.
- Within Europe: -0.7%, third month of decline.
- North America–Europe: +2.6%, steady 21 months of growth.

Operating Environment
- Global goods trade: +3% year-on-year in September.
- Industrial production: +3.7%, fastest pace since March 2025.
- Jet fuel prices: Rose 2.5% in October despite crude oil decline.
- Manufacturing PMI: Up to 51.45, signaling modest expansion.
- Export orders: Slightly weaker at 48.31, below the 50-point threshold.

Big Picture
Air cargo continues to be a resilient backbone of global supply chains, adapting to tariff impacts and shifting trade flows. While North America shows weakness, Asia, Africa, and Europe are driving growth, underscoring the sector’s role in stabilizing international commerce during peak shipping season.