18 March 2024
Freight News

Air Cargo’s ‘Surprisingly Strong’ Start to 2024 Continued in February with Another Double-Digit Rise in Demand and Rates Boost

The global air cargo market’s surprisingly positive start to 2024 continued in February with a second consecutive month of double-digit growth in demand and an uptick in general freight spot rates, according to Xeneta’s latest weekly market analysis.

Following January’s 11% growth in volumes, February saw a similarly welcome upward curve for airlines and freight forwarders, with demand increasing 11% year over year. Reflecting this improvement, in what is traditionally a slower time of year for airfreight volumes, the average global cargo spot rate in February rose 2% from the previous month to US$2.29 per kg.

Read more in TIACA’s February monthly economic report.

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