The global air cargo market at the beginning of the year: rising rates and falling volumes.
In January 2025, global air cargo volumes grew by 2% year-on-year, significantly slower than the +11% growth recorded last year. The slowdown was due to a high comparison base, lower e-commerce demand and an earlier Lunar New Year (LNY) holiday. In week 5 (27 January – 2 February), volumes were down 12% compared to the previous week, mainly due to a 33% drop in cargo flows from the Asia-Pacific region, where widespread factory closures began on 29 January. However, Central and South America (+16%) and Africa (+11%) showed growth, driven by increased shipments of flowers for Valentine’s Day.
