At the beginning of 2025, global air cargo tonnage showed a modest two percent year-on-year growth, with severe weather and seasonal trends complicating year-on-year comparisons. December 2024 marked the lowest growth for the year, with an increase of six percent compared to December 2023. Average full-market rates rose seven percent year-on-year, indicating a shift to more moderate growth. Average global spot rates at the start of 2025 were significantly higher than the previous year, driven by strong demand from Asia-Pacific and Middle East origins.

Source: https://www.stattimes.com/air-cargo/softening-growth-in-air-cargo-tonnages-and-rates-worldacd-1354210