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

The International Air Transport Association (IATA) released data for October 2025 global air cargo markets showing:

• Total demand, measured in cargo tonne-kilometers (CTK), rose by 4.1% compared to October 2024 levels (+4.8% for international operations).
• Capacity, measured in available cargo tonne-kilometers (ACTK), increased by 5.1% compared to October 2024 (+6.4% for international operations).

“Air cargo demand grew 4.1% year-on-year 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.

Several factors in the operating environment should be noted:

• The global goods trade grew by 3% year-on-year in September.
• Global industrial production rose 3.7% year-on-year in September, the fastest pace since March 2025 and the strongest monthly reading since late 2022.
• Jet fuel prices increased 2.5% in October even as crude fell, with a tightening diesel market driving the jet crack spread to nearly double last year’s level.
• Global manufacturing sentiment strengthened slightly in October, with the PMI rising for the third consecutive month to reach 51.45. New export orders deteriorated slightly to 48.31, remaining below the 50-point expansion threshold, reflecting ongoing caution amid tariff uncertainty.

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PASSENGER

he International Air Transport Association (IATA) released data for October 2025 global passenger demand with the following highlights:

• Total demand, measured in revenue passenger kilometers (RPK), was up 6.6% compared to October 2024. Total capacity, measured in available seat kilometers (ASK), was up 5.8% year-on-year. The October load factor was 84.6% (+0.7 ppt compared to October 2024).
• International demand rose 8.5% compared to October 2024. Capacity was up 7.1% year-on-year, and the load factor was 84.6% (+1.1 ppt compared to October 2024).
• Domestic demand increased 3.4% compared to October 2024. Capacity was up 3.6% year-on-year. The load factor was 84.6% (-0.1 ppt compared to October 2024).

"October was a strong month for air travel with demand up 6.6% on the previous year. Of particular note is the 4.5% international traffic growth for carriers based in North America which comes after several months of basically flat performance. The trends for the rest of the year look encouraging: scheduled seat capacity in November is set to expand 3.6% and in December by 4.7%. This points to strong demand for holiday travel and businesses looking to complete deals by the end of the year. Considering the uncertainty in the economic outlook for 2026, the resilience of demand for air travel, with the jobs and growth it brings, is a bright spot that governments should nurture with care,” said Willie Walsh, IATA’s Director General.  

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