Global air freight volumes and pricing declined during the first full week of May as demand eased following major holidays in Asia and the end of the seasonal surge in flower shipments for Mother’s Day.
New data from WorldACD showed worldwide chargeable weight fell by 3% week-on-week, contributing to a combined 6% decline over the previous two weeks.
The downturn was driven largely by weaker exports from Asia-Pacific and Central and South America after seasonal demand peaks subsided.
Flower exports and Asian holidays weigh on volumes
Air cargo volumes from Central and South America dropped 19% week-on-week as the annual rush to transport flowers for Mother’s Day came to an end.
Meanwhile, exports from Asia-Pacific fell 5% compared with the previous week following the conclusion of the “Super Golden Week” holiday period, which combines Japan’s Golden Week with public holidays in China and South Korea.
Shipments from the Middle East and South Asia also declined by 4%, while North America and Europe recorded modest weekly increases of 5% and 2% respectively as demand rebounded after the holiday slowdown.
Despite the short-term decline, global air freight demand remained 5% higher than the same period last year, with growth recorded across most regions apart from Africa, where volumes fell 11% year-on-year.
The holiday period significantly affected Asia-US and Asia-Europe trade lanes.
Exports from Japan to the United States fell 44% week-on-week, while shipments to Europe dropped 54%.
Overall cargo volumes from Asia-Pacific to both Europe and the US declined by around 9%.
However, some markets continued to perform strongly. Air freight exports from Vietnam to Europe rose 22% week-on-week, while volumes from Taiwan also edged higher.
Middle East cargo market shows mixed performance
Cargo volumes from the Middle East and South Asia region declined 5% week-on-week to both Europe and North America, although underlying trends varied considerably between markets.
Exports to Europe weakened sharply due to falling shipments from Dubai and Bangladesh.
By contrast, cargo traffic from Dubai to the United States surged 65% after a weak previous week, partially offsetting declines from India and Sri Lanka.
On an annual basis, cargo demand from the region to the US remained strong, rising 11% year-on-year.
Shipments from China and Hong Kong to the US also continued to grow rapidly, climbing by almost 50% compared with the same period last year.
Air freight prices retreat
Global air cargo pricing fell 3% week-on-week to an average of $3.22 per kilogram, mirroring the decline in freight volumes.
Rates fell across most regions, led by Central and South America, where prices dropped 8% as flower exports eased. African markets also recorded a 7% fall.
Europe was the only region to record a weekly rise in rates, with prices increasing 1%, while North American pricing remained broadly unchanged.
Despite the recent slowdown, average global freight rates were still 39% higher than a year earlier, with spot market prices up 51%.
The Middle East and South Asia region continued to record some of the strongest annual pricing growth.
Spot rates from Dubai to the United States rose 135% year-on-year, while rates to Europe jumped 181%, highlighting continued disruption and elevated operating costs across some long-haul cargo markets.
Capacity growth slows as airlines cut flights
Global cargo capacity also declined by 2% week-on-week following the end of the seasonal shipping peaks.
Capacity fell 4% in Central and South America and 3% in Asia-Pacific, while Europe and the Middle East recorded broadly flat growth.
Industry analysts said the recovery in Middle Eastern airline capacity appeared to be slowing despite Gulf carriers restoring most freighter operations.
Passenger services in the region are still recovering more gradually, with airlines waiting for stronger traveller confidence before fully rebuilding schedules.
Rising aviation fuel prices are also beginning to affect airline networks.
Airlines have reportedly removed around 13,000 flights from schedules during May, primarily affecting regional routes operated by narrowbody aircraft, although some long-haul services have also been cut.
While travel demand has so far remained resilient, analysts warned that persistently high fuel costs could eventually force airlines to reduce schedules further if consumers alter holiday plans in response to more expensive air fares.
