Air cargo posts record-breaking October despite weak Asia–North America lane

Global air cargo traffic hit an all-time high for October, even as demand on the key Asia–North America route continued to shrink, according to new data from the International Air Transport Association (IATA).

Worldwide cargo demand, measured in cargo tonne kilometres (CTK), rose 4.1% year on year, marking the eighth straight month of expansion. Capacity climbed by 5.1%, pushing the industry load factor down slightly by 0.5 percentage points to 47.1%.

Trade lane data for October illustrates the divergence:

• Asia–North America demand fell 1.4% year on year.
• Europe–Asia traffic surged 11.7%.
• Intra-Asia volumes climbed 9%.
• Middle East–Asia flows increased 11.5%.

Performance also varied by region and airline group.

• North American carriers saw cargo traffic fall 2.7%.
• Asian airlines recorded an 8.3% jump.
• European carriers posted 4.3% growth.
• Middle Eastern operators were up 5.7%.
• Latin American airlines improved by 2.7%.
• African carriers delivered the strongest result with a 16.6% year-on-year surge.

Underlying economic indicators offered some encouragement. The global manufacturing PMI inched up for a third consecutive month to 51.45, signaling mild expansion. However, new export orders slipped to 48.31, remaining in contraction territory as businesses remained cautious amid tariff-related uncertainty.

Despite these headwinds, October’s performance underscores the sector’s resilience — and suggests a solid foundation for the final quarter’s traditionally busy cargo period.