Global air cargo demand increased 7.7% year on year in September, according to the latest figures from the International Air Transport Association (IATA). Growth exceeded the expansion in available capacity, which rose by 2.7% in available cargo tonne kilometres (CTK) terms.
The imbalance lifted the industry cargo load factor by 2.2 percentage points compared with September a year earlier, to 47.9%. IATA said demand was supported by stronger global trade and manufacturing, with shipments linked to artificial intelligence activity again contributing to particularly strong traffic across the Pacific.
Asia-North America remains the strongest trade lane
Asia-North America recorded the highest growth among the major trade lanes, with traffic up 17% year on year. September marked the lane’s eighth consecutive month of growth. Europe-North America followed with a 9.3% increase and its fifth consecutive month of growth.
| Trade lane | September change year on year |
|---|---|
| Asia-North America | 17% |
| Within Asia | 10.2% |
| Europe-North America | 9.3% |
| Asia-Europe | 6% |
| Africa-Asia | 2.6% |
| Europe-Middle East | -18% |
| Middle East-Asia | -10.2% |
Traffic within Asia rose 10.2%, while Asia-Europe grew by 6% and Africa-Asia by 2.6%. The Middle East was the principal area of weakness: Europe-Middle East traffic fell by 18%, and Middle East-Asia declined by 10.2%. IATA attributed those reductions to the continuing conflict in the Middle East region.
Fuel prices put pressure on cargo economics
Airlines are seeing demand growth alongside a sharp rise in operating costs. IATA said jet fuel prices increased by 17.5% month on month in September and were 103.4% higher than a year earlier. The association warned that cargo yields had not kept pace with the increase.
“There is no shortage of goods to ship, but doing that profitably in the face of persistently high fuel prices has become more challenging.”
Marie Owens Thomsen, IATA’s senior vice president for sustainability and chief economist, said the September increase was supported by stronger global trade and manufacturing, while AI-related shipments helped produce another month of double-digit growth across the Pacific. She also said the cost environment had become the central challenge for carriers.
Airline performance varied by region. North American carriers recorded the strongest increase, with demand up 11.8% year on year, followed by Asia Pacific airlines at 8.6%. Latin American airlines grew by 6.7%, African carriers by 4.7%, European airlines by 4.5% and Middle East-based carriers by 3.8%.
- Worldwide cargo demand: +7.7% year on year in September
- Available cargo capacity: +2.7%
- Global cargo load factor: 47.9%, up 2.2 percentage points
