Global Air Cargo Volumes Surge Back Toward COVID-Era Peaks as Demand Outstrips Available Capacity

Summary

Global air cargo volumes in early June have climbed to within striking distance of COVID-era peak levels, driven by a combination of e-commerce growth, semiconductor restocking, and pharma/perishable demand out of Latin America and Asia. Capacity remains constrained by ongoing Middle East airspace closures and reduced widebody passenger frequencies on key trade lanes, keeping spot rates elevated. Forwarders warn that the traditional summer air freight peak may arrive early this year, compounding already-tight ocean-to-air conversion demand.