Global air cargo rates fell below year ago levels in early January 2026, with the worldwide average declining to $2.53 per kilogram in the week ending January 4, down from $2.62 the previous year, according to WorldACD Market Data.
The data published on January 9 showed rates continuing a downward trajectory that began in late December following the peak holiday shipping season. Rates decreased steadily from $2.79 per kilogram in the first week of December to $2.53 by early January, representing a 9.3 percent decline over five weeks.
Chargeable weight worldwide decreased 5 percent compared to the same period last year, while capacity dropped 30 percent over the past five weeks. However, comparing the last two weeks with the preceding two weeks showed chargeable weight holding steady with zero percent change.
Africa recorded the strongest regional performance with chargeable weight increasing 6 percent when comparing the last two weeks to the preceding two weeks. Year on year, African chargeable weight remained flat while capacity declined 22 percent over the past five weeks.
Asia Pacific saw chargeable weight decrease 1 percent comparing the last two weeks to prior weeks, though year on year volumes fell 8 percent. Capacity in the region dropped 25 percent over five weeks but increased 6 percent in the most recent two week comparison.
Europe recorded 4 percent growth in chargeable weight comparing the last two weeks to preceding weeks. Year on year, European volumes declined 7 percent while capacity fell 44 percent over five weeks. The sharp capacity reduction reflects ongoing strikes at major European airports including locations in the United Kingdom (UK), Spain, Italy and Portugal.
Middle East and South Asia showed 4 percent chargeable weight growth in the two week comparison, though year on year volumes decreased 5 percent. Capacity in the region dropped 14 percent over five weeks but surged 10 percent in the recent two week period.
Central and South America posted 4 percent growth comparing recent weeks, while year on year volumes declined 1 percent. Regional capacity fell 30 percent over five weeks with a 10 percent increase in the latest two week comparison.
North America experienced the weakest regional performance with chargeable weight declining 4 percent comparing recent weeks and falling 4 percent year on year. Capacity dropped 37 percent over five weeks with a modest 2 percent increase in the most recent period.
Rates showed mixed movements across regions. Africa rates increased 6 percent comparing the last five weeks to preceding periods and rose 7 percent when comparing the most recent two weeks. Asia Pacific rates declined 1 percent in the two week comparison after falling 9 percent over five weeks.
Europe rates rose 4 percent in the recent two week period following a 10 percent decline over five weeks. Middle East and South Asia rates increased 4 percent comparing recent weeks after a 4 percent five week decline. Central and South America rates rose 4 percent in the two week comparison following a 9 percent five week drop.
North America rates fell 4 percent comparing recent weeks and declined 10 percent over the five week period, the steepest regional decrease.
Regional trade lane data for the most recent two weeks showed significant variations. Flows from North America to Central and South America declined 46 percent, while Africa to Middle East and South Asia dropped 47 percent. Europe to Middle East and South Asia fell 47 percent.
Asia Pacific to Europe recorded 3 percent growth, matching the increase seen in Asia Pacific to Central and South America. North America to Africa posted 3 percent growth, while flows from Middle East and South Asia to Asia Pacific rose 1 percent.
WorldACD bases its trends on more than 500,000 transactions per week from airlines, forwarders, shippers, airports and general sales agents. The organization provides detailed market data for hundreds of markets at different origin and destination levels to subscribers.
Air freight demand in Asia Pacific is expected to remain strong into 2026, led by high technology, artificial intelligence and e commerce shipments despite capacity constraints, according to Dimerco’s Asia Pacific Monthly Freight Report for January 2026.
China airfreight demand is building ahead of Chinese New Year in February 2026, with exporters accelerating shipments before factory closures. The compressed pre Chinese New Year shipping window is likely to tighten capacity and push rates higher from late January to early February.
Industry analysts note that 2025 ended with full year worldwide air cargo tonnages increasing approximately 4 percent compared to 2024. Rates for 2025 averaged broadly similar to 2024 levels at around $2.47 per kilogram.
The post peak slowdown in early January reflects typical seasonal patterns as year end restocking eases. However, demand is expected to rebound in late January ahead of Lunar New Year factory closures across Asia.
