Global air cargo demand rises 9% in June despite softer week

Global air cargo demand remained strong in June, with worldwide tonnages rising 9% year on year despite a slight slowdown in the final full week of the month. According to the latest figures from WorldACD Market Data, global tonnages in June were also stable compared with May, although both tonnages and rates declined by 2% week on week during the week of 22 to 28 June.

Chargeable weight for the first half of 2026 increased by 5% year on year, while second-quarter volumes were up 6% compared with the same period last year and 6% higher than the first quarter. Air cargo growth continued despite capacity and market disruptions in the Middle East, supported by an 8% increase in first-half tonnages from Asia Pacific origins.

Most major air cargo origin regions recorded year-on-year growth in June. The Middle East & South Asia (MESA) led with an 11% increase, partly because Eid al-Adha was held in May this year compared with June last year. Asia Pacific recorded 10% growth, followed by North America at 9%. Europe and Central & South America each posted 7% growth, while Africa recorded a more modest 1% increase.

Worldwide air cargo rates remained high during June despite the continued return of capacity to Middle East and Gulf markets. Average full-market rates, based on a combination of spot and contract rates, were around 33% higher than a year earlier in June and throughout the second quarter. Average rates in the second quarter were also 28% higher than in the first quarter, reflecting changes in the market since the US and Israel began their military campaign against Iran on 28 February.

Average worldwide spot rates in June stood at $3.71 per kg, remaining broadly stable compared with May. However, year-on-year spot rate growth eased from 49% in May to 43% in June. Spot rates rose by 49% from MESA and Africa origins, 47% from Asia Pacific, 42% from North America and 34% from Europe. Central & South America recorded a comparatively lower increase of 14%.

The report said that despite continuing tensions and occasional flare-ups between the US and Iran, the relative stability following the memorandum signed by the two sides last month contributed to lower fuel prices. Jet fuel prices fell by 2% week on week to below $117 per barrel in the week ending 26 June, while Brent crude dropped by 9% to below $74 per barrel, according to IATA's Jet Fuel Price Monitor. Several airlines have announced lower air cargo fuel surcharges from 1 July, with further reductions expected to ease overall air cargo rates in the coming weeks.

The improved stability also supported a continued recovery in air cargo capacity to and from Gulf markets. Comparing the last two weeks with the previous two-week period, worldwide air cargo capacity increased by 3%, led by MESA with a 5% increase, followed by North America at 4% and Europe at 3%. Global capacity was also 3% higher than a year earlier, while capacity from MESA origins moved slightly above last year's level, increasing by 1%.

The report found little evidence of cargo being moved early ahead of the European Union's new de minimis rules, which came into effect on 1 July. The rules introduce a fixed customs fee of €3 per item or tariff code for shipments valued below €150 entering the EU. During the final full week of June, air cargo volumes from China and Hong Kong to Europe fell by 8% and 9% week on week respectively, after recording smaller declines the previous week.

According to the report, one possible reason is that the industry has adapted since the removal of US de minimis exemptions last year. Low-cost customs filing solutions are now available, reducing customs declaration costs to only a few cents per item compared with several dollars per item when the US exemptions ended.

Other major Asia Pacific export markets also recorded lower shipments to Europe during week 26. Volumes from Vietnam fell by 7% and Thailand by 9% week on week, contributing to an overall 7% decline in tonnages from Asia Pacific to Europe. Average spot rates on the Asia Pacific-Europe route edged down by 2% to $5.26 per kg during the week, but remained 38% higher than a year earlier.