Global air cargo demand and rates edged further upwards in the first full week of February, with freighter capacity from Central & South America (CSA) returning to normal as flower shipments had already peaked ahead of Valentine's Day on February 14, while carriers and forwarders also lowered capacity from parts of Greater China due to the start of factory closures and slowdowns ahead of Lunar New Year (LNY) on February 17.

Global air cargo demand continued to firm in early February, with chargeable weight rising 2% in week 6, the fifth straight weekly increase after the year‑end slowdown, according to WorldACD Market Data.

North America posted the strongest rebound as capacity returned following winter‑storm disruptions, lifting outbound tonnage 8% week over week. Traffic from the Middle East and South Asia also rose, up 7%, partly reflecting a recovery from recent flight disruptions tied to regional tensions.

Volumes out of Central and South America eased 4% after a sharp pre‑Valentine's Day spike the previous week, when freighter operators moved large flows of flowers from Colombia and Ecuador to North American hubs.

Tonnages out of Asia Pacific rose slightly in week 6, up 1% week over week, though flows to both the U.S. and Europe were broadly flat. Gains from Japan, Hong Kong and China were offset by declines from South Korea, Vietnam and parts of Southeast Asia.

 (Source: WorldACD)

Spot‑rate movements followed a similar pattern: higher prices out of China, Hong Kong and some Southeast Asian origins were outweighed by sharp drops from Japan and South Korea.

Within the steady volumes to Europe, Taiwan posted another weekly increase, extending its rebound since the year‑end lull, and Vietnam also recorded a solid rise. China was unchanged, while Japan and South Korea slipped.

Average spot rates from Asia Pacific to Europe rose for a third straight week, helped by continued price recovery out of China.

MESA to U.S. volumes surge

WorldACD said the 7% week‑on‑week increase in tonnage from the Middle East and South Asia was most pronounced on U.S. lanes, where volumes jumped 12%, driven by Dubai, India and Bangladesh. Dubai rebounded sharply after flight restrictions the previous week, while India also recovered from earlier declines. Bangladesh continued its strong start to the year with a second consecutive weekly increase.

Shipments from MESA to Europe also rose, though recent volatility in the market has made underlying trends harder to read.

Meanwhile, the analysis said North America's air cargo market remained uneven last year.

WorldACD data shows total tonnage to and from the region grew 2.5% in 2025, with the U.S. up 2.6% and Canada up about 8%, while Mexico fell nearly 5%. Inbound and outbound flows grew at similar rates overall, though Mexico and Canada showed wider gaps between the two directions.

"The patterns of 2025 appear to have broadly continued into 2026, with the region as a whole recording a further tonnage rise of 2.7%, YoY, in January," the report said.

Although, it noted that severe winter storms likely weighed on some markets, particularly outbound Canada, which fell almost 7%. Mexico, meanwhile, swung from a full‑year decline in 2025 to a 5% increase in January, driven by strong outbound demand.