In May, air cargo volumes have stabilized while global rates continue to stay high.

In mid-May, global air cargo markets stabilized after the East Asia holidays, with capacity gradually rebuilding amid geopolitical volatility. Week 21 saw flat tonnages compared to the previous week but a 2% increase year-on-year, driven by strong demand from the US and Europe due to supply chain disruptions. Despite a 2% rise in chargeable weight from the Middle East & South Asia, volumes decreased slightly year-on-year. Average air cargo rates remained stable, but spot rates increased significantly. Overall, capacity rose 1% week-on-week, with MESA experiencing the largest increase despite ongoing challenges.