News #202610 - Cargo capacity still in recovery mode

23.03.2026

Air cargo capacity on a global level is still in recovery mode following the outbreak of war in the Middle East.

Statistics from consultant Rotate show that, at a global level, international widebody air cargo capacity over the past week is down 11% compared with pre-Chinese New Year levels (4 February-11 February).

This is an improvement on the 20% reduction recorded in the first week after the outbreak of fighting and comes during one of air cargo’s quieter periods.

Much of the reduced capacity is caused by the heavily reduced flying by Middle East airlines, which make up some of the largest cargo carriers.

According to IATA data for 2024 (the most recent full-year data available), Qatar Airways was the largest cargo carrier in the world that year (excluding express carriers FedEx and UPS) while Emirates ranked second.

The two airlines have begun operating limited flight schedules, although Qatar Cargo’s operations remain much reduced.

The figures from Rotate show how Asia-Europe flights operating via the Middle East are the most affected.

Capacity from Asia Pacific to the Middle East is down 39% (-46,000 tonnes) compared with pre-Chinese New Year levels, while from the Middle East to Europe, capacity is down 36% (-32,000 tonnes).

Carriers have responded by increasing direct flying from Asia Pacific to Europe by 19% (+17,000 tonnes).

There has also been a slight 2% (2,000 tonnes) increase in cargo capacity on flights from Asia Pacific to North America.

Earlier this week, Air Cargo News reported that air cargo rates were quickly increasing as a result of the conflict.

Sources suggest that spot rates on services operating from Hong Kong to Europe are now comfortably higher than rates from Hong Kong to North America, heading above $5.15 per kg.

This is an increase of almost 30% compared with the $4 per kg being paid on the route shortly before the outbreak of fighting.

Meanwhile, rates from India to the US have increased by around 60% since the outbreak of the conflict, sources said, and from India to Europe, there has been an 80% increase.

Source: https://www.aircargonews.net/airlines/2026/03/cargo-capacity-still-in-recovery-mode/ 

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