Air freight demand increases slightly in anticipation of the Lunar New Year holiday.

In the third week of January 2025, global air cargo tonnages saw an 8% increase, recovering from a significant decline in late December and early January, and reaching about 90% of pre-Christmas levels. Year-on-year, tonnages rose by 3%. Average global rates remained stable at $2.43 per kilo, up 7% from last year, despite a 3% weekly drop in spot rates. Notably, tonnages from Asia Pacific increased by 5% compared to the previous year, though they are still 10% below peak levels. Concerns persist about the decline in e-commerce shipments to Europe, influenced by seasonal variations and the upcoming Lunar New Year.