Air cargo suppliers adopt a short-term contracting strategy as they approach the end of 2025.

In Q4, nearly half of air cargo forwarder volumes were bought on the spot market, reflecting shippers' short-term strategies, while one-year contracts dropped to 24% of new deals, a significant decline from the previous quarter. Despite this, one-year contracts rose 8% year-over-year. Average spot rates fell 4% YoY to $2.83 per kilogram, with a 6% increase in global air cargo volumes. However, concerns linger over e-commerce growth, particularly from China, and a cautious outlook suggests a potential 2-3% increase in cargo volumes for 2026, amidst ongoing geopolitical uncertainties.