Airfreight rates have continued to rise in recent weeks, even though capacity has been recovering and demand has remained below last year’s level. That is according to the latest figures released by WorldACD.
For the week ending 12 April (week 15), global airfreight spot rates reached $3.76 per kg, up 37% year on year. Compared with the end of February, when the Iran war began, rates are now up by more than 40%.
The rise reflects the pressure the conflict has placed on global supply chains. Airlines have had to operate longer routings, while jet fuel prices have increased sharply.
By region, spot rates from North America origins were up 52% year on year to $2.73 per kg in week 15. From Africa, rates rose 62% to $2.95 per kg, while from Asia Pacific they increased 24% to $4.95 per kg.
At the same time, global demand in week 15 was down 8% compared with the same week last year, while capacity was about 3% lower than in the equivalent week of 2025. The figures were also influenced by the timing of the Easter holiday.
Although capacity remains below last year’s level, it has recovered significantly from the drop of around 20% seen when the war first broke out. WorldACD noted, however, that capacity from Middle East/South Asia (MESA) origins is still down by around 20% year on year.
Despite that capacity shortfall, tonnages from MESA during weeks 14 and 15 were slightly above last year’s levels. WorldACD said this was partly due to increased use of freighter capacity and strong demand for lift from the region, where ocean freight is also facing serious constraints, delays and backlogs. The comparison was also helped by the timing of Eid-al-Fitr, which fell at the end of March last year.
The data provider added that capacity from South Asia is now only 5% below pre-war levels, helped by the addition of more direct flights to Europe.
Looking ahead, WorldACD said the outlook remains uncertain. The two-week ceasefire agreed this month between Washington and Tehran raised hopes of a more lasting settlement, but the truce remains fragile and the path to peace is still unclear.
The organisation warned that inflation and high fuel costs are likely to persist even if the ceasefire holds. It also pointed to growing concern that jet fuel shortages and rising fuel prices could trigger flight cancellations and further rate increases in the weeks ahead unless the crisis is resolved quickly.
Meanwhile, bellyhold capacity through the Middle East is expected to take time to recover fully, and container lines are not expecting a return to pre-conflict flows any time soon. As a result, air cargo pricing is likely to remain elevated for some time.
