Global air freight volumes declined sharply at the start of May as demand eased following the Mother’s Day flower shipping rush and public holidays disrupted business activity across several regions.
According to the latest figures from WorldACD Market Data, worldwide air cargo tonnage fell by 7% in the week from 27 April to 3 May compared with the previous week.
The slowdown came after several weeks of growth and was linked to the end of peak flower exports for Mother’s Day, alongside reduced commercial activity during Labour Day holidays and Japan’s Golden Week.
Despite weaker demand and an increase in available cargo capacity, freight prices continued to rise. Global average air cargo rates climbed by a further 3% week-on-week to $3.29 (£2.63) per kilogram, leaving prices 37% higher than a year earlier.
Preliminary April figures show the air cargo market remained stronger overall than in March. Worldwide tonnage rose 5% year-on-year during the month, reversing a 4% decline recorded in March, while average global freight rates surged 28% to $3.17 per kilogram — the highest level so far this year.
Asia and Europe see weaker demand
Most regions recorded falling cargo volumes during the latest week, with the sharpest declines seen in Central and South America, Asia Pacific and Europe, where chargeable weight dropped by 9%.
In Asia, overlapping holiday periods, including Labour Day and Japan’s Golden Week, reduced shipping demand. Cargo volumes from Asia Pacific to Europe slipped slightly, with significant declines from Vietnam and Japan partly offset by modest growth from China, Hong Kong and Malaysia.
Shipments from Asia Pacific to the United States also fell by 4% week-on-week after three consecutive weeks of growth, although exports from South Korea increased strongly.
Forwarders said some exporters in Asia have begun shifting to combined sea-air freight routes via the US west coast as high air cargo prices make direct air transport less economical.
Middle East recovery continues
The Middle East and South Asia (MESA) region was the only major market to record weekly cargo growth, with tonnage rising 2% week-on-week and 4% year-on-year as Gulf carriers continued rebuilding operations disrupted earlier this year.
However, exports from major hubs, including Dubai, declined on some routes to Europe and the United States.
Cargo capacity globally remained broadly unchanged from the previous week, as airlines reduced freighter operations in response to slowing demand and sharply higher fuel prices. Aviation fuel costs have nearly doubled since late February, forcing some carriers to cut unprofitable routes.
Capacity from the MESA region rose after additional services were introduced by Qatar Airways, and more bellyhold space became available through passenger flights.
Conflict concerns continue
Industry analysts warned that renewed hostilities in the Gulf region on 4 May have added further uncertainty to the market, causing temporary airspace closures, flight cancellations and rerouted cargo services.
Freight forwarders reported delays and reduced space availability for general cargo shipments, while ongoing high oil prices are expected to keep air freight costs elevated for months.
Although there have been signals of possible diplomatic progress, the air cargo sector remains vulnerable to further disruption as airlines and logistics companies continue to adjust to volatile fuel costs and changing global trade patterns.
