Air cargo demand up more than four per cent in October

Global air cargo demand rose 4.1 per cent in October compared with a year earlier, marking the eighth straight month of growth, according to new data from the International Air Transport Association (IATA).

Capacity increased 5.1 per cent year-over-year.

 “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,” said Willie Walsh, IATA’s director general. “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.”

IATA said the gains came as global goods trade climbed 5.3 per cent in September and industrial production rose 3.7 per cent, the strongest pace since late 2022. Jet fuel prices ticked up 2.5 per cent in October despite a drop in crude, while global manufacturing sentiment improved slightly.

Regional performance was mixed. Africa posted the strongest demand growth at 16.6 per cent, followed by Asia-Pacific at 8.3 per cent. Europe rose 4.3 per cent and the Middle East gained 5.7 per cent. Both North America and Latin America saw demand fall 2.7 per cent.

IATA said most major trade lanes recorded growth in October, led by Europe–Asia, Middle East–Asia, Africa–Asia and intra-Asia routes. North America–Asia and within-Europe markets continued to contract.