Air Freight Market Update
June 2026
What’s shaping Air Freight in 2026? Explore how various dynamics are impacting global Air Cargo.
Global Air Cargo Update
Demand
- Global air cargo volumes increased 5% year on year in April 2026 and remained up 4% year to date.
- Asia continues to drive global demand growth while Europe and North America remain broadly stable.
Capacity
- Global air cargo capacity grew 2% year on year month to date in May 2026 driven by strong increases from Asia.
- Airlines remain cautious on capacity expansion and focus on high yield corridors amid elevated operating and fuel costs.
Regulation/ News
- Global spot rates remained stable but elevated at 48% above prior year levels in May 2026.
- Supply chain constraints including aircraft delivery delays and potential EU ETS expansion continue to pressure costs and rates.
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Regional Air Freight News
Europe
- Middle East disruptions and longer routings continue to constrain effective capacity and schedule flexibility.
- Rates are showing signs of stabilisation as capacity and shipment volumes recover.
- Manufacturing relocation and EV investments supported inbound volume growth into Hungary and Poland.
Asia
- Asia demand improved in May 2026 with shipments to North America increasing 19% year over year.
- Asia capacity remained structurally tight despite 5% year over year growth.
- Freight rates remained elevated at 30% to 50% above May 2025 levels.
Middle East & Africa
- Air cargo capacity recovered to roughly 75% to 85% of pre-crisis levels.
- Effective capacity remains constrained by rerouting inefficiencies and Gulf hub congestion.
- Air freight rates remained 35% to 60% above last year’s levels in May 2026.
Americas
- Capacity remained stable to Asia but faced constraints on North America and Europe trade lanes.
- Additional airline services increased regional connectivity across several Latin American markets.
- The North American air cargo market continued to stabilise compared with first quarter volatility.
- Capacity remained generally available across major trade lanes with localised constraints from parts of Asia to the United States.
Detailed Air Freight Market Update
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