Airfreight rates have continued to rise in recent weeks despite capacity increasing and demand falling, according to the latest data from WorldACD.
Figures from the data provider show that airfreight spot rates in the week ending April 12 (week 15) were up 37% year on year to $3.76 per kg and up more than 40% compared with the end of February when the Iran war began.
The increase comes as supply chains have come under pressure as a result of the war, with airlines having to fly greater distances and jet fuel prices having rapidly increased.
The data provider said that spot rates from North America origins rose 52% year on year to an average of $2.73 per kg in week 15, while from Africa rates are up 62% year on year at $2.95 per kg and from Asia Pacific there is a 24% year on year increase to $4.95 per kg.
Meanwhile, demand levels during week 15 were down 8% compared with last year and capacity is down by around 3% on the same week in 2025. Figures were also affected by the timing of the Easter holiday.
While capacity is down on last year’s levels, it has recovered from the decline of around 20% registered when the war first broke out.
“Although global capacity has rebounded close to its levels this time last year, capacity from Middle East/South Asia (MESA) origins remains down by around 20% year on year,” WorldACD said in its weekly market round-up.
“Despite that year-on-year capacity deficit, tonnages from MESA across those two weeks (weeks 14 and 15) were slightly up year on year – partly a reflection of the greater use of freighter capacity and high demand for capacity from the region, where ocean freight has also been facing serious capacity constraints, delays, and backlogs, but also partly helped by the impact of Eid-al-Fitr at the end of March last year.”
The data firm said that capacity from South Asia was now only 5% down on pre-war levels thanks to the addition of more direct flights to Europe.
Looking to the rest of the year, World ACD said the outlook is uncertain.
“The two-week ceasefire agreement this month between Washington and Tehran raised hopes of a lasting settlement of the conflict, although the truce remains fragile and the outlook for peace is uncertain,” World ACD said.
“Most observers have warned that inflation and elevated fuel costs are likely to persist for some time, even if the current ceasefire holds, and there are increasing concerns that jet fuel shortages and rising costs of jet fuel will lead to flight cancellations and further air cargo rate rises in the coming weeks unless there is a swift resolution to the current crisis.
“Meanwhile, bellyhold capacity through the Middle East will take time to fully recover, and container lines do not expect a return to pre-conflict flows any time soon, meaning air cargo pricing is likely to remain elevated for some time.”
