Air Freight Market Update
April 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 demand grew 7% Year-on-Year in February 2026 and Asia led with 14% Year-on-Year growth.
- Volumes fell 6% Year-on-Year in Week 11 as the market reacted to reduced capacity and the Middle East crisis.
Capacity
- Global air cargo tracking capacity declined 7% Year-on-Year Month-to-Date on 24 March 2026 with the Gulf region at the centre of the disruption.
- Asia–Europe flows grew 29% Year-on-Year Month-to-Date on 24 March 2026 as carriers replaced lost Middle East-linked capacity.
Regulation/ News
- Average global air cargo rates rose 7% Week-on-Week in Week 12 to $2.84 per kilogram and global spot rates increased 6% to $3.38 per kilogram.
- EU ICS2 Phase 3 now requires a full Entry Summary Declaration before loading for all air cargo entering the EU and India introduced new dangerous goods rules for foreign operators.
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Regional Air Freight News
Europe
- European air cargo demand declined by 5% year on year in March 2026 compared to February levels.
- Carriers shifted capacity towards European hubs and direct long-haul routings to reduce reliance on Gulf hubs.
- Higher fuel costs increased operating expenses whilst long haul capacity remained largely stable.
Asia
- Asia Pacific air cargo demand fell by 4% year on year in March 2026 whilst Intra-Asia volumes increased by 7%.
- Capacity on Asia to Europe lanes declined due to Middle East hub closures and higher operating costs.
- Air freight rates reached new highs as carriers applied emergency surcharges amid tight supply.
Middle East & Africa
- Middle East and Africa export volumes dropped by 24% year on year in March 2026 due to airspace closures.
- Gulf carriers continued operating below pre-crisis capacity levels with reduced schedule reliability.
- Limited capacity and longer routings continued to push air freight rates higher despite softer demand.
Americas
- North American air cargo demand remained broadly flat in March 2026 as rerouted flows offset disruptions.
- Latin America recorded 9% year on year export growth supported by increased Asia bound demand.
- Seasonal perishable exports tightened capacity and displaced general cargo on key routes.
Detailed Air Freight Market Update
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