Air Cargo Rates Stay Elevated as Gulf Capacity Rebounds

Summary

WorldACD data for week 25 (15-21 June) shows global air cargo rates edging up 1% to US$3.24/kg and spot rates rising 1% to $3.75/kg, despite further capacity returning to Middle East & South Asia markets following the 17 June U.S.-Iran peace memorandum. MESA capacity deficit versus pre-war levels narrowed from -30% to -19%, with the Gulf-North America gap slashed from -33% to -13%. Year-on-year, worldwide spot rates remain 47% higher, supported by persistent bellyhold shortages, higher jet fuel costs and risk surcharges.