Air cargo volumes in November increased as shippers adhered to conventional patterns.

In November, global air cargo volumes increased by 5% year-over-year, contrary to expectations for stagnation during the holiday season, as reported by Xeneta. Despite this growth, air cargo spot rates fell 5% to an average of $2.73 per kilogram. The market remains volatile, partly due to U.S. tariff adjustments and decreasing e-commerce activity from China, which has historically driven growth. Experts predict modest gains for the air cargo sector, with supply exceeding demand by 2026, putting further pressure on rates as forwarders seek to capture market share.