Global air cargo pricing remained under pressure in April, but new market data from Xeneta suggests that the worst of the latest rate spike may be easing. According to Xeneta, global air cargo spot rates rose 30% year-on-year in April to USD 3.34 per kg, the highest level since October 2022, following capacity disruption linked to the Middle East conflict.
The increase was driven mainly by supply constraints, fuel pressure, and disruption across key corridors. However, Xeneta indicates that capacity is now returning on several affected routes, allowing market fundamentals to regain more influence over airfreight pricing. This may bring some relief to shippers preparing for Q3 and Q4 capacity planning.
For NAP members, the message is highly relevant. In a market where rates can move fast, forwarders need more than a price. They need visibility into how capacity is secured, whether shipments are moving on long-term agreements or spot market exposure, and how surcharges are being applied.
Xeneta’s analysis also highlights an important point for the air cargo community: higher fuel costs do not automatically justify higher airfreight rates on every lane. Pricing remains shaped by capacity, demand, routing options, and market timing. On the transatlantic corridor, for example, rates fell even as fuel costs rose, showing how added belly capacity can quickly change the pricing picture.
As volatility continues to define global air cargo, transparency becomes a competitive advantage. Trusted partnerships, accurate market intelligence, and clear communication between shippers, forwarders, and carriers will remain essential to protect margins, manage customer expectations, and make better airfreight decisions.
Read the original Air Cargo News article for the full Xeneta analysis.
