DHL Air Freight Update: Global Demand Up 4% Year to Date, Rates 48% Above Prior Year

Summary

DHL Global Forwarding's May 2026 air freight market update reports global air cargo volumes up 4% year to date, with April demand rising 5% year on year. Capacity grew 2% year on year month-to-date in May, led by Asia, while global spot rates remained stable but elevated at 48% above prior-year levels. The update notes Middle East geopolitical tensions continue to disrupt Asia-Europe corridors, and aircraft delivery delays and EU ETS expansion are keeping cost pressure on carriers.