IATA Monthly Market Intelligence Shows International Traffic Expanding 4.7%, With North American, Asia-Pacific, and European Carriers Accounting for Over 90% of Total Volume Growth


GENEVA / FRANKFURT — Global air cargo demand maintained a resilient growth trajectory heading into September, with industry-wide cargo tonne-kilometers (CTKs) expanding by 3.9% year-on-year, according to monthly performance metrics published by the International Air Transport Association (IATA). International scheduled air operations demonstrated even sharper momentum, climbing 4.7% year-on-year, propelled primarily by sustained export velocity out of East Asian industrial centers into North American and European consumer distribution grids.

The volume expansion outpaced available capacity additions, tightening load factors across arterial trunk corridors. Global available cargo tonne-kilometers (ACTKs) increased by 1.7% year-on-year (1.8% for international operations), raising the industry-wide cargo load factor (CLF) by one full percentage point to 46.0% (and 51.5% on international routes).

The data confirms that despite mounting operating cost pressures—including surging jet fuel spot benchmarks and lingering airspace detours—airfreight continues to function as an indispensable operational shock absorber for transcontinental supply chains navigating maritime volatility.

Transpacific Engine and Corridor Divergence

The global demand expansion was anchored by powerful volume surges across key East–West lanes, which offset sharp geopolitical contractions in secondary corridors:

  • Asia–North America Trunk Dominance: The Transpacific corridor registered the highest growth among all global trade lanes, expanding 9.2% year-on-year to mark its sixth consecutive month of uninterrupted volume growth. High-density shipments of semiconductor wafers, artificial intelligence computing infrastructure, and consumer electronics components dominated main-deck space.

  • Europe–Asia Sourcing Strength: Air cargo moving along the Europe–Asia trade lane grew 3.1% year-on-year, extending its continuous expansion sequence to 41 consecutive months. Concurrently, intra-Asia cargo traffic expanded 6.1%, marking 33 straight months of intra-regional sub-assembly movement.

  • Transatlantic Flow: The Europe–North America corridor logged a 2.1% year-on-year rise, recording its third consecutive month of positive volumetric gains, supported by high-value pharmaceutical dispatches and automotive component deliveries.

  • Middle East-Linked Contractions: In sharp contrast, routes intersecting the Middle East experienced steep contractions due to persistent airspace rerouting and geopolitical disruption. Cargo demand between Europe and the Middle East plunged 16.1% year-on-year, while Middle East–Asia traffic dropped 14.1%, marking five consecutive months of contraction for both corridors. Africa–Asia trade lanes also contracted by 14.7%.


North American carriers registered the fastest demand expansion (+4.8%) alongside negative capacity adjustments (-1.5%), driving a 2.5 percentage point jump in regional load factor. European carriers achieved the highest absolute load factor in the industry at 51.1%, reflecting tight widebody main-deck and bellyhold utilization across westbound loops. Airlines based in Asia-Pacific, North America, and Europe collectively accounted for more than 90% of the entire industry's nominal volumetric gains.

Macro Drivers, Jet Fuel Volatility, and Peak-Season Readiness

Commenting on the global figures, Marie Owens Thomsen, Senior Vice President for Sustainability and Chief Economist at IATA, highlighted the operational dynamics shaping carrier strategies:

"Dedicated freighters gained market share as belly-hold traffic declined, possibly reflecting demand for larger or specialist shipments and the operational flexibility that freighters can provide. Looking ahead, the outlook remains broadly positive, supported by manufacturing activity, export orders, and global trade. However, higher fuel prices, geopolitical tensions, and tariff uncertainty will need to be watched carefully."

The global macroeconomic backdrop provided fundamental support for air logistics. Global cross-border goods trade expanded 7.5% year-on-year, while the Global Manufacturing Output Purchasing Managers’ Index (PMI) held steady in expansion territory at 52.7, and the New Export Orders Index reached a three-month high of 50.0.

However, airline cost structures face severe headwinds. Jet fuel prices surged 12.2% month-on-month in July and stood 56.9% higher than July 2025 baselines, severely compressing freighter operating margins and compelling airlines to maintain elevated, dynamic fuel surcharges.

As multinational consumer tech giants lock in multi-month Block Space Agreements (BSAs) and dedicated charter rotations for late-autumn hardware product rollouts, logistics forwarders warn that general spot capacity across the Transpacific and European trunks will remain tightly rationed through the fourth quarter.