Air Freight Market Update
March 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 declined by 4% year on year in March 2026 due to disruptions at key Gulf transit hubs.
- Air cargo demand is expected to grow by 2–3% in 2026, supported by AI, semiconductor, and high‑value electronics trade despite ongoing volatility and cost pressures.
Capacity
- Global air cargo capacity decreased by 3% year on year month to date as of 27 April 2026 with the Gulf region experiencing the sharpest decline.
- Airlines reduced capacity through flight cancellations and route suspensions due to high jet fuel costs and Middle East disruptions.
Regulation/ News
- Air freight rates remained structurally elevated with spot rates up 45% year on year in week 17.
- Rising jet fuel prices led carriers to implement emergency surcharges across multiple trade lanes.
Get Logistics Insights by Email
Subscribe to our monthly market updates and get invited to exclusive webinars where our Freight Forwarding Experts answer all your questions on global trade.
Regional Air Freight News
Europe
- European airfreight operations continue to face disruption risks as airspace constraints and carrier restrictions limit bookings and create backlog pressure.
- Jet fuel price spikes are triggering immediate carrier surcharge increases and short-term rate increases across European trade lanes.
- Capacity remains uneven and reduced routing flexibility on MEA-linked corridors is tightening options and space availability.
Asia
- AP–EU capacity has grown through added freighters and stronger Greater China flows that partially offset the drop in Gulf capacity.
- Intercontinental air freight rates have surged due to higher jet fuel costs and longer routings around closed Middle East airspace.
- The market has shifted into a seller’s market through the end of Q1 2026 with a 7 to 10 day backlog in major transit hubs.
Middle East and Africa
- Global air cargo capacity fell 22% on 1 March due to GCC airspace closures and Asia–Middle East capacity is down 50%.
- Qatar Airways and Emirates Cargo’s global capacity share dropped from 12% to 4%.
- Freight rates are surging amid tight capacity and rerouting and backlogs continue to disrupt schedules.
Americas
- US–Middle East airfreight remains highly volatile as shifting airspace and carrier operations continue to disrupt networks.
- Capacity between North America and India and Southeast Asia is tightening due to reduced Middle East carrier operations.
- QR cancelled three daily GRU–DOH flights until further notice and Costa Rica is experiencing capacity constraints to Europe and Asia Pacific.
Detailed Air Freight Market Update
Discover the latest trends, key market developments, and expert analyses that can impact your logistics strategy.
Want to Read More Freight Forwarding Stories?
Get the latest on Air, Ocean and Rail Freight Forwarding in your inbox every month, along with regular invitations to our webinars.
