In September 2023, the global air cargo market experienced a year-on-year demand increase of 9%, marking the first month of 2024 without double-digit growth, as reported by Xeneta. Factors influencing this include persistent e-commerce demand and disruptions in ocean freight. While supply grew only 3%, dynamic load factors rose, pushing average global spot rates up by 26% to $2.71 per kg. Looking ahead, potential strikes and geopolitical tensions could disrupt supply further, potentially spurring rapid rate increases as companies prepare for the peak season.

Source: https://www.stattimes.com/air-cargo/us-port-strike-adds-to-storm-brewing-in-air-cargo-market-xeneta-1353382