| 1 | ZM | Scibe-Airlift | ICAO: SBZ, Callsign: Scibe Airlift, Ceased operations on 29 September 1998. Founded in 1976 as SBZ Cargo. | ZRE | AVCODES |
| 2 | ZM | Scibe-Airlift | ICAO: SBZ, Callsign: Scibe Airlift, | ZAR | AVCODES |
| 3 | ZM | Alliance Express Rwanda | Designator ZM recalled by IATA | RWA | AVCODES |
| 4 | ZM | Cityline Hungary Kft. | ICAO: CNB, Callsign: Cityhun, Ceased operation during 2015. Designator ZM* recalled by IATA. | H | AVCODES |
| 5 | ZM | Corporate Air Charters, Inc. | IATA designator changed from 7V* | USA | AVCODES |
| 6 | ZM | Air Manas d/b/a Air Manas Ltd. Air Company | ICAO: MBB, Callsign: Air Manas, Founded in 2006. Ceased operations. IATA designator changed to M2* | KS | AVCODES |
| 7 | ZM | Air Manas Air Company LLC | ICAO: MBB, Callsign: Air Manas, IATA Prefix: 887, | KS | AVCODES |
| 8 | ZMA | Zambezi Airlines | IATA: ZJ, Callsign: Zambezi Wings, | Z | AVCODES |
| 9 | ZMA | Zambezi Airlines | | | ICAO1 |
| 10 | ZMAF | Zambian Air Force | | Z | TRAFFIC |
| 11 | ZMB | Zürcher Museums-Bahn | | CH | VKM |
| 12 | ZMCH | MOBIL CHEMICAL CORP. (EXXON-MOBIL) | | | PWRC |
| 13 | ZMCHK | Zakłady Metalowo-Chemiczne METCHEM Andrzej Świerczek | | PL | VKM |
| 14 | ZMCI | ZUMMO MEAT COMPANY INC | | | SCAC4 |
| 15 | ZMCO | ZAMCO TRANSPORT SPECIALIST INC | | | SCAC4 |
| 16 | ZMDC | ZMD EXPRESS | | | SCAC4 |
| 17 | ZMEI | Z MOLD & ENGINEERING INC | | | SCAC4 |
| 18 | ZMFC | XTRA INTERMODAL | | | PWRC |
| 19 | ZMFC | XTRA Intermodal | | | RSRV |
| 20 | ZMFC | ZIEMAN MANUFACTURING CO | | | SCAC4 |
| 21 | ZMIE | ZIP MAIL ISLAND EXPRESS | | | SCAC4 |
| 22 | ZMKSST | Zakład Miejski Komunikacji Samochodowej Stalowa Wola | City: Stalowa Wola | PL | TRAFFIC |
| 23 | ZMKT | ZMK TRUCKING | | | SCAC4 |
| 24 | ZMLG | ZOOM LOGISTICS INC | | | SCAC4 |
| 25 | ZMMC | MOBILE MINING & MINERAL CO. | | | PWRC |
| 26 | ZMML | Z&M MOTOR LINE, INC | | | SCAC1 |
| 27 | ZMML | Z & M MOTOR LINE, INC | | | SCAC4 |
| 28 | ZMMR | ZIMMERMA | | | SCAC4 |
| 29 | ZMNU | ZHE JIANG MORITA NEW MATERIALS CO.,LTD | | PRC | BIC |
| 30 | ZMOP | MONSEY PRODUCTS CO. | | | PWRC |
| 31 | ZMOU | ZIM INTEGRATED SHIPPING SERVICES LTD | | IL | BIC |
| 32 | ZMRS | ZOOMERS INC | | | SCAC4 |
| 33 | ZMS | Zweckverband Müllverwertung Schwandorf | | DE | VKM |
| 34 | ZMSI | Z MOTOR SERVICE INC | | | SCAC4 |
| 35 | ZMSU | ZEPPELIN MOBILE SYSTEME GMBH | | D | BIC |
| 36 | ZMTK | ZM TRUCKING LLC | | | SCAC4 |
| 37 | ZMTL | ZIMMERMAN TRUCKING | | | SCAC1 |
| 38 | ZMTL | ZIMMERMAN TRUCK LINES INC | | | SCAC4 |
| 39 | ZMTUB | ZIMTUB SA | | RO | VKM |
| 40 | ZMX | Zummo Meat Co. | 1/1952; eliminated 4/1953 | | NAKINA |
| 41 | ZMX | Zummo Meat Co. | Jan-52 | | NRHS |
| 42 | ZMX | ZUMMO MEAT CO. | | | PWRC |
| 43 | ZMXT | ZMX TRANSPORTATION SERVICES INC | | | SCAC4 |
| 44 | ZMYU | TIAN HAO WAREHOUSING AND TRANSPORTATION | | HK | BIC |
| 45 | ZMZ | Zubrnická museální železnice | | CZ | VKM |
