Europe has emerged as the standout performer in global air cargo markets as the industry absorbs the typical post-Lunar New Year volume correction, with rates from European origins climbing 11 percent year on year in the two weeks ending February 22, according to the latest weekly market data published by WorldACD Market Data, an Amsterdam-based air cargo intelligence provider.
The report, which draws on more than 500,000 transactions per week, shows the worldwide average rate settling at $2.38 per kilogram in week eight of 2026, its lowest point in five weeks and down from $2.48 recorded during the February 9 to 15 period. The pullback reflects the seasonal demand dip that routinely follows Lunar New Year factory closures across Asia, which cut export volumes sharply from that region.
Chargeable weight worldwide fell 16 percent in the most recent week-on-week comparison, the steepest single-week tonnage drop recorded in the five-week trending window. Despite that correction, the broader two-week-on-two-week measure showed global volumes still up 1 percent against the same period in 2025, confirming that underlying annual demand growth remains intact even as short-term volumes adjust.
Europe’s rate strength stands in contrast to most other major origin regions. Capacity from European origins expanded 8 percent year on year while chargeable weight rose 11 percent over the same window, a combination that indicates demand is outpacing supply additions on key outbound European corridors and providing pricing support that other regions are currently unable to match.
Africa maintained its pattern of capacity-led growth. Outbound capacity from Africa expanded 15 percent year on year in the latest two-week comparison, the strongest capacity increase of any major origin region in the dataset, while rates held 6 percent above their year-earlier level. The sustained capacity build across African corridors reflects ongoing airline investment in the continent’s freight infrastructure.
Asia Pacific continued to face rate pressure from an excess of available space. Chargeable weight from the region contracted 17 percent over the two-week comparison period, consistent with the post-Lunar New Year slowdown as Chinese and broader regional factories resumed operations after the holiday break. Capacity from Asia Pacific origins nevertheless expanded 11 percent year on year, keeping downward pressure on spot prices.
Central and South America recorded the sharpest capacity contraction of any region, with outbound space falling 24 percent over the two-week comparison, though rates from those origins declined 5 percent year on year, suggesting weaker export demand rather than a tightening of available lift.
The Middle East and South Asia region expanded capacity 13 percent year on year but saw chargeable weight drop 8 percent against prior-year levels in the latest rate comparison, indicating that additional supply is entering the market faster than shippers are filling it.
Globally, the five-week rate trend shows a 1 percent gain while chargeable weight is up 1 percent and capacity has risen 5 percent over the same window, reflecting a market where demand growth continues but remains insufficient to absorb the pace of capacity additions, maintaining downward pressure on rates compared with the elevated levels seen during the supply chain disruption years of 2023 and 2024.
Industry participants are now monitoring whether the post-Lunar New Year rebound, typically visible from late February onward as Asian factories return to full output, will generate sufficient volume momentum to stabilize or lift spot rates heading into the second quarter.
