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).

Several factors in the operating environment should be noted:

• The global goods trade grew by 5.3% 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.

Trade Lane Growth

Air freight volumes in October 2025 increased across most major trade corridors, with the notable exceptions of trade lanes between North America and Asia, and within Europe. Europe–Asia posted the strongest performance with double-digit growth, followed by solid gains on Middle East–Asia, Africa–Asia, and Within Asia routes. Europe–North America also recorded modest positive growth. Europe–Middle East was broadly flat.