DHL – Airfreight, Aug 2024

The airfreight industry is facing challenges with slowing aircraft deliveries and supply chain issues, resulting in a higher global dynamic load factor. Tight air freight capacity is expected in the second half of 2024 due to increasing demand from cross-border e-commerce and geopolitical tensions. Airlines such as Qatar Airways, Air France-KLM, Lufthansa, and Cargolux are adjusting their routes to focus on Asia, while Atlas Air is leasing additional freighters to cater to demand from Chinese e-commerce companies. Jet fuel prices are forecasted to rise, while air cargo rates are at their highest due to supply-demand imbalances. Disruptions in Bangladesh and the Middle East conflict have impacted air cargo tonnages and flight cancellations. The US DHS has launched a program to assess air shipments for security threats, and sanctions in Russia/Ukraine are expected to continue. Overall, the air cargo industry is preparing for a robust peak season driven by holiday demand with expectations of capacity pressure and higher rates.