U.S. port strike intensifies challenges emerging in the air cargo industry, according to Xeneta.

In September 2023, the global air cargo market experienced a year-on-year demand increase of 9%, marking the first month of 2024 without double-digit growth, as reported by Xeneta. Factors influencing this include persistent e-commerce demand and disruptions in ocean freight. While supply grew only 3%, dynamic load factors rose, pushing average global spot rates up by 26% to $2.71 per kg. Looking ahead, potential strikes and geopolitical tensions could disrupt supply further, potentially spurring rapid rate increases as companies prepare for the peak season.