Buenos Aires, November 28 (NA) -- Latin American airlines experienced a 2.7% year-on-year decrease in air cargo demand in October, marking the slowest growth of all regions, tied with North America, while offered belly cargo capacity increased by 2.8% year-on-year. These data come from the report released this Friday by the International Air Transport Association (IATA), which was accessed by the Argentine News Agency. Regarding total demand, measured in cargo tonne-kilometers (CTK), it increased by 4.1% compared to October 2024 levels (+4.8% for international operations). Capacity, measured in available cargo tonne-kilometers (ACTK), increased by 5.1% compared to October 2024 (+6.4% for international operations), while air cargo demand grew by 4.1% year-on-year in October, marking the eighth consecutive month of expansion and establishing a new monthly record for volumes. 'While the Asia-North America commercial route extended its contraction to six months, October recorded double-digit or near-double-digit growth within Asia, between the Middle East and Europe, and between Europe and Asia,' said Willie Walsh, IATA's Director General. 'This shift in the growth pattern demonstrates that air cargo is enabling global supply chains to adapt to the impact of US tariffs. Capacity increased by 20.0% year-on-year. Growth in Commercial Routes In October 2025, air cargo volumes increased on most major commercial routes, with the notable exception of routes between North America and Asia, and within Europe. Capacity increased by 0.1% year-on-year. In turn, European airlines recorded a 4.3% year-on-year increase in air cargo demand in October. Capacity increased by 4.3% year-on-year, while Middle Eastern airlines recorded a 5.7% year-on-year increase in air cargo demand in October. Capacity increased by 10% year-on-year. Finally, African airlines experienced a 16.6% year-on-year increase in air cargo demand in October, the largest increase of all regions. This positive news is especially significant now as the air cargo sector enters the peak shipping season of the fourth quarter,' added the report. World merchandise trade grew by 5.3% year-on-year in September, while world industrial production increased by 3.7% year-on-year in September, the fastest pace since March 2025 and the strongest monthly reading since late 2022. Jet fuel prices increased by 2.5% in October, even as crude oil prices fell. The Europe-North America route also recorded modest positive growth. The Europe-Asia route had the best performance, with double-digit growth, followed by solid gains on the Middle East-Asia, Africa-Asia, and intra-Asia routes. The Europe-Middle East route remained virtually unchanged. The contraction in the diesel market pushed the jet fuel crack spread to nearly double last year's level. Confidence in the global manufacturing sector strengthened slightly in October, with the PMI rising for the third consecutive month to reach 51.45. New export orders deteriorated slightly to 48.31, remaining below the 50-point expansion threshold, reflecting caution amid tariff uncertainty. Regional Performance in October Asia-Pacific airlines recorded an 8.3% year-on-year increase in air cargo demand in October. Capacity increased by 7.3% year-on-year. North American carriers showed a 2.7% year-on-year decrease in air cargo growth in October, the worst performance of all regions, tied with Latin America.
