Air freight prices jumped 30% in April, but a decline is anticipated shortly.

In April, global air cargo spot rates surged 30% year-on-year to $3.34 per kg, the highest since October 2022, driven by regional capacity constraints and rising fuel costs. Analysts at Xeneta expect pricing pressures to ease as capacity returns, with rates stabilizing. Despite concerns reminiscent of the pandemic, the current situation is less severe, although jet fuel prices remain high. Spot rates from Europe to the Middle East rose significantly, while Northeast Asia saw slower increases. Overall, a decline in e-commerce shipments from China adds to the uncertainty in air freight demand.