September Air Cargo Demand Slows Amid Capacity Challenges and Market Pressures

Air cargo demand growth slowed in September, increasing by 9% year on year, down from earlier double-digit gains, according to Xeneta. Capacity rose by just 3%, the lowest this year, while the dynamic load factor improved to 60%. Average airfreight rates surged 26% to $2.71 per kg. Despite the slowdown, strong demand persisted, driven by e-commerce, disruptions in container shipping, and pre-Golden Week cargo surges in China. Additionally, airlines are adjusting flight schedules for winter, which may further impact capacity. US port strikes could intensify pressures on this already busy market.