Air Cargo Spot Rates Keep Falling With No Peak Season In Site

According to Xeneta, air cargo spot rates in October were on average 20% lower YoY, but so far remain twice as high as in the pre-corona crisis 2019 year.

Traffic volumes decreased by 8% compared to October last year, while carrier capacity expanded by 3%, due to the recovery in passenger traffic.

Analysts say that there is little evidence of an approaching peak season due to a steady decline in demand amid economic problems. And since there is no peak season in sight, there is no expected surcharge on peak rates either.

Let us recall that in 2021 the surcharge was a significant part of a comprehensive rate throughout the year. It rose sharply during the peak demand season of the last quarter of 2021 and partially remained in the first quarter of 2022.