Air freight market trends Week 10 - 2025 by WorldACD

The global air freight market remained stable in week 10/2025, with demand increasing slightly and freight rates increasing by 5% year-on-year, while Asia-Pacific volumes recovered strongly.

Air freight

The global air freight market maintained a stable trend with demand and freight rates slightly higher than the same period last year, according to the latest data from WorldACD Market Data. This occurred against a backdrop of rapidly changing global geopolitics and trade.

Based on more than 500,000 weekly transactions tracked by WorldACD, total global cargo volumes in week 10 (March 3-9) remained flat compared to the previous week and increased by 2% year-on-year (YoY). Chargeable weight from Asia-Pacific increased by 5% week-on-week (WoW), bringing volumes back to near mid-January levels, just ahead of the seasonal swings of Lunar New Year (LNY). However, this increase was offset by declines from Central & South America (-9% WoW), Europe (-3%), North America (-2%), Middle East & South Asia (MESA, -1%) and Africa (-1%).

Over the two weeks of 9 and 10, total cargo volumes increased by around 4% YoY, driven mainly by an 8% increase from Asia-Pacific. However, this was also partly affected by the change in the timing of Lunar New Year, which fell on 29 January this year, earlier than 10 February last year.
Global average freight rates, including both spot and contract rates, were 5% higher YoY in weeks 9 and 10, with a slight 1% WoW increase to USD 2.33/kg.

Air freight market trends

Air freight market trends. Source: WorldACD

Spot prices remain stable

The global average spot price in week 10 was USD 2.55/kg, unchanged from the previous week, despite a 1% decrease in Asia-Pacific rates. Global spot prices increased 8% YoY, with Asia-Pacific rates up 11% YoY.

In the Asia-Pacific region alone, the average spot price from China and Hong Kong to the US remained unchanged at $3.78/kg, while cargo volumes continued to recover to near mid- to late-January levels.

Meanwhile, Asia-Pacific to Europe volumes increased by 4% WoW, driven by strong increases in key markets such as China (+5%), Hong Kong (+6%), Japan (+7%), Taiwan (+7%), Vietnam (+3%), Thailand (+9%) and Singapore (+9%). South Korea in particular saw a sharp 11% WoW decline, in line with the country’s reduced cargo airlift capacity in week 10.

However, Asia-Pacific to Europe spot prices declined slightly by 3% WoW to $3.91/kg, driven by declines from China (-5%), Hong Kong (-2%) and Vietnam (-7%). However, spot prices are still 20% higher than last year, driven by strong increases from China (+14%), Hong Kong (+22%), Japan (+19%) and Thailand (+38%).

Decline from Dubai

In the Middle East & South Asia (MESA) region, spot prices to Europe remained steady at USD 2.42/kg in week 10, despite a 4% WoW decline in demand, which may be related to the start of Ramadan on 28 February.
Dubai volumes to Europe fell by 15% WoW, following a 17% decline in the previous week. This pushed spot prices on this route down to USD 1.88/kg, down 12% in week 10.

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