On November 28, 2025, the International Air Transport Association (IATA) released data on the global air freight market for October 2025, showing:
Total freight volume, measured in freight ton-kilometers (CTK), increased by 4.1% year-on-year (4.8% for international routes).
Freight capacity, measured in available freight ton-kilometers (ACTK), increased by 5.1% year-on-year (6.4% for international routes).
"Air freight demand rose 4.1% year-over-year in October, marking the eighth consecutive month of growth and setting a new monthly freight volume record. Despite a six-month contraction in trade routes between Asia and North America, trade within Asia, between the Middle East and Europe, and between Europe and Asia all experienced double-digit or near-double-digit growth in October. This shift in growth patterns indicates that air freight is helping global supply chains adapt to the impact of US tariffs. This positive news is particularly significant as the air freight industry enters its peak fourth-quarter shipping season," said Willie Walsh, Director General of the International Air Transport Association (IATA).
Here are some factors in the operating environment:
Global merchandise trade grew 3% year-over-year in September.
Global industrial production grew 3.7% year-over-year in September, the fastest pace since March 2025 and the strongest monthly figure since the end of 2022.
Despite falling crude oil prices, jet fuel prices rose 2.5% in October, with a tightening diesel market pushing jet crack spreads to nearly double last year's levels.
Global manufacturing sentiment improved slightly in October, with the Purchasing Managers' Index (PMI) rising for the third consecutive month to 51.45. New export orders deteriorated slightly, falling to 48.31, still below the 50-point expansion threshold, reflecting continued caution amid tariff uncertainty.