Air cargo spot rates rose just 1% week on week to $3.73/kg in mid-April 2026 — the slowest increase since the Iran conflict — though still 40% above pre-conflict levels and 46% higher year on year. Capacity is returning, especially in MESA (+7% weekly lift), narrowing the deficit to ~30%, but jet fuel shortages — now at multi-year lows on the US west coast — constrain full normalization. Carriers are redeploying capacity for yield, not geography, while China-Europe and ecommerce demand drives infrastructure expansion in Glasgow, Vienna, and East Midlands.
According to theloadstar.com, global air cargo spot rates rose just 1% week on week in mid-April 2026 to $3.73 per kg — the slowest increase since the start of the Iran conflict — though still more than 40% above pre-conflict levels and 46% higher year on year.
Capacity Returns, But Unevenly
Available lift in the Middle East & South Asia (MESA) region grew 7% week on week, narrowing the capacity deficit versus pre-war levels to about 30%, down from 35% the prior week. Qatar Airways Cargo is resuming freighter services to Dubai World Central and Sharjah, with freighter destinations set to exceed 50. However, carriers are not simply restoring pre-war networks. As Jonathan Mellink, VP and head of sales and marketing at Rotate, explained on the Loadstar News in Brief podcast:
“Carriers are redeploying capacity in ways and places not directly linked to the Gulf.”
Demand Softens on Key Lanes
Tonnages from MESA origins fell 6% week on week, dragging spot rates from the region down 2%. Flows from India and Sri Lanka weakened sharply; Dubai volumes offered only partial support. From Asia Pacific, outbound rates rose 3% week on week, yet volumes from Asia to Europe fell 3%, while rates edged up just 1%. Transpacific pricing remained broadly stable.
Fuel Shortage Emerges as Critical Constraint
Jet fuel shortages — now reported in key markets including the US west coast, where stockpiles have fallen to multi-year lows — are limiting full capacity normalization. Mellink emphasized:
“The fuel shortage is by far the most pressing issue… you can’t throw money at that problem. If there’s no fuel, there’s no fuel.”
He added that “even when flights operate normally, capacity can be significantly reduced due to fuel bunkering, and that isn’t always visible in the data”. Airlines are cutting marginal routes, prioritizing higher-yield long-haul sectors, and avoiding older, fuel-inefficient freighters.
Resilient Demand Drives Strategic Expansion
Despite softening rate momentum, underlying demand remains robust — especially in ecommerce and China-Europe trade. China Eastern Airlines launched a new thrice-weekly A330 service between Xi’an and Vienna. Ethiopian Airlines began three weekly freighter flights from Hong Kong to Glasgow Prestwick Airport, targeting inbound ecommerce and opening new export routes to South Korea and Vietnam. At East Midlands Airport, Chinese logistics firm YunExpress is preparing to open a 7,000 sq metre cargo handling facility — the first UK-based operation by a China-headquartered cargo handler.
Source: The Loadstar
Compiled from international media by the SCI.AI editorial team.
