Air Cargo

Air Cargo Demand Accelerates 6% in August as Rate Declines Plateau

Global air cargo volumes climbed 6% year-over-year in August, extending the sector's summer strength into its traditionally slowest quarter. The sustained demand reflects cargo markets' resilience even as spot rates moderate from earlier peaks.

Spot rates averaged USD 3 and remained 24% above August 2025 levels, though month-on-month declines are narrowing. Rates dropped 3% from July, following July's 6% decline, marking the third consecutive month of easing growth after 28% expansion in July and 38% in June.

Capacity remained flat year-over-year in August, pushing load factors to 61%—three percentage points higher than August 2025. Analysts project further rate decreases ahead, though momentum may slow as jet fuel prices rise. Shippers continue purchasing short-term capacity while awaiting accelerated rate relief.