KUALA LUMPUR, Oct 30 — Asia-Pacific airlines recorded a 6.8 per cent year-on-year (y-o-y) growth in air cargo demand in September, while cargo capacity rose 4.8 per cent y-o-y during the same period, said the International Air Transport Association (IATA).
Globally, air cargo demand grew 2.9 per cent y-o-y in September, marking the seventh consecutive month of overall growth.
"Buried in that growth is a significant alteration of trade patterns as United States tariff policies, including the ending of ‘de minimis’ exemptions, take effect. On one side of the equation, a decline in North America-Asia demand has set in over the last five months.
"But this has been more than compensated for with strong growth within Asia and on routes linking Asia to Europe, Africa and the Middle East," said IATA’s director general Willie Walsh in a statement yesterday.
He added that while many had feared an unwinding of global trade, air cargo has instead adapted successfully to serve shifting market demands.
Several factors have contributed to the operating environment, including a 3.7 per cent y-o-y increase in global goods trade in August and a 5.4 per cent rise in jet fuel prices in September, despite lower oil prices. The latter was driven by a tighter diesel market, which doubled the crack spread y-o-y.
IATA said global manufacturing sentiment strengthened in September, with the purchasing manufacturers index (PMI) rising for the second straight month to 51.3.
New export orders also improved slightly to 49.6 but remained below the 50-point expansion threshold, reflecting ongoing caution amid tariff uncertainty.
Meanwhile, air freight volumes in September 2025 increased across most major trade corridors. Europe-Asia and Within Asia posted robust double-digit growth, while Middle East–Asia, North America-Europe, and Africa-Asia also saw notable gains.
In contrast, it noted that Asia-North America, the Middle East-Europe, and within Europe recorded declines.
