Rates increase to a peak for 2024, even with a decrease in tonnage.

In early October 2024, global air cargo spot rates reached their highest levels of the year, rising to $2.84 per kilo, despite a decrease in worldwide tonnages due to China’s national holidays and air traffic disruptions in the Middle East. The overall tonnage dropped by five percent, largely driven by a seven percent decline from Asia Pacific origins, mainly attributed to the Golden Week holidays. Meanwhile, MESA region air cargo volumes increased by eight percent year-over-year, with rates soaring by 54 percent, despite a nine percent decline in chargeable weight from MESA origins.