Air cargo demand grew 4.1% YoY in October: IATA

Willie Walsh, Director-General, IATA, said, “Air cargo demand grew 4.1 per cent 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 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 USA tariffs. This positive news is significant as the industry enters the peak Q4 shipping season,” said. Several factors in the operating environment includes the global goods trade grew by 3 per cent YoY in September. Global industrial production rose 3.7 per cent year-on-year in September, the fastest since March 2025 and the strongest monthly reading since late 2022. Jet fuel prices rose 2.5 per cent 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.