Global Air Cargo Demand Rose 6% in October as Capacity Held Flat

Xeneta reported that global air cargo demand rose 6% year over year in October 2026, with capacity flat and the dynamic load factor up 2 percentage points to 63%.

Key details

• Xeneta recorded a global average air cargo spot rate of $3.11 per kilogram, up 4% from September and 29% year over year.
• The Baltic Air Freight Index averaged 2,651.25 in October, an 8.2% monthly rise and a 25.9% year-over-year increase, according to commentary cited from Cargo Facts Consulting.
• On Europe–North America routes, Xeneta recorded a 10% monthly spot-rate increase to $2.31 per kilogram.
• DHL Global Forwarding handled 497,000 tonnes in the third quarter, up 12% year over year, with growth on Asia-origin routes.
• IAG reported third-quarter cargo traffic of 1,101 million cargo tonne-kilometres, down 13.9%, while cargo revenue increased 3.9% to €294 million.
• Emirates SkyCargo carried approximately 1.2 million tonnes in the six months to September, down 1%, while cargo revenue rose 52%.

Xeneta put the global average air cargo spot rate at $3.11 per kilogram in October, up 29% year over year.

Why it matters

The figures show different outcomes across cargo carriers: DHL Global Forwarding moved more freight, while IAG reported lower traffic alongside higher quarterly revenue. Emirates SkyCargo also reported a sharp revenue increase despite a small decline in tonnage.