Despite shifting global trade patterns and legislative challenges, the industry continues to grow, according to figures provided yesterday by the International Air Transport Association (IATA) for the worldwide air cargo markets in September 2025. The data shows that while capacity expanded by 7.4% year over year, the demand for air cargo increased by 14.7% year over year in September, the most growth of any region. For the seventh consecutive month, the demand for air cargo, expressed in cargo tonne-kilometers (CTK), grew 2.9% year over year in comparison to September 2024. Global operations increased by 3.2%. Additionally, capacity, expressed in available cargo tonne-kilometers (ACTK), increased by 3.0% annually (+4.4% for overseas operations)September saw a 2.9% year-over-year increase in air freight demand, the sixth consecutive month of improvement. Amidst that expansion, there is a notable shift in trade trends as US tariff policies, such as the termination of de minimis exemptions, take effect. On the one hand, for the past five months, there has been a drop in demand from North America to Asia. However, robust expansion within Asia and on routes connecting Asia to Europe, Africa, and the Middle East has more than made up for this. IATA’s Director General Willie Walsh stated, “We are witnessing air cargo successfully adapting to serve shifting market demands, despite the fact that many had feared an unwinding of global trade.The data indicates that a number of operational and macroeconomic factors affected performance in September. According to the report, despite reduced crude oil prices, global goods trade increased 3.7% year over year in August, while jet fuel costs increased 5.4% month over month due to a tighter diesel market that doubled the crack spread from the previous year. Global manufacturing optimism improved, as seen by the Purchasing Managers’ Index (PMI), which increased to 51.3 for the second consecutive month. A minor improvement in new export orders to 49.6 kept them below the 50-point expansion criterion, indicating continued prudence in the face of unclear trade policy.
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