Global air cargo demand and rates increased further in early February, driven by a recovery in capacity from regions including North America and the Middle East & South Asia. According to WorldACD Market Data, worldwide chargeable weight rose by 2% during the week of February 2-8, marking the fifth consecutive week of growth after a year-end decline. North America experienced an 8% week-on-week rise, as winter storm disruptions eased, while the Middle East & South Asia saw a 7% increase, partly due to regional flight restrictions easing.
Cargo volumes from Central & South America peaked just before Valentine’s Day, with a 24% week-on-week surge in the previous week and a subsequent decrease of 4%. Meanwhile, Asia Pacific cargo tonnage increased slightly by 1%, with notable increases from Japan (+11%), Hong Kong (+6%), and China (+2%), but declines from South Korea (-16%), Vietnam (-10%), and other Southeast Asian countries. Spot freight rates from China to the US rose 6% to $4.69 per kilogram, although rates from Japan and South Korea fell by 10% and 14% respectively.
Regional Capacity and Pricing Trends
Within Europe, volume from Taiwan and Vietnam increased significantly (+6% and +10% WoW), while Chinese exports remained flat. Prices from Asia to Europe gained 2%, mainly due to a 6% increase in spot rates from China. The Middle East & South Asia saw notable growth in US-bound cargo, especially from Dubai (+20%) and India (+14%), following previous declines linked to geopolitical tensions. Volatility remains high in this market, making consistent pattern prediction difficult.
North America's air cargo sector, which accounted for nearly 90% of regional volume, grew by 2.6% in 2025, with the US showing +2.6% overall. Mexico's demand declined by 5%, but in January 2026, demand reversed with a 5% increase YoY, driven by a 14% rise in outbound freight. Winter storms likely influenced these figures, impacting Canadian and US outbound flows. As the region stabilizes, industry analysts anticipate continued growth in 2026, supported by ongoing regional and international trade developments.
