Global air freight demand weakened in March, with tonnage falling 4 per cent YoY, as per latest data from WorldACD. The decline marks a sharp reversal from earlier in the year, when global volumes rose 8 per cent in January and 7 per cent in February. The Middle East and South Asia (MESA) region bore the brunt of the downturn, with tonnage dropping 21 per cent year-on-year. Other regions also recorded declines, including Africa (-13%), Europe (-5%), and Asia-Pacific (-4%). Despite plummeting volumes, air freight rates climbed significantly, driven by rising fuel costs, reduced capacity in the Middle East, and additional war risk surcharges. Global pricing rose 12 per cent YoY in March, following a 1 per cent dip in January and a 5 per cent rise in February. Regionally, average rates surged by 52 per cent from MESA, 24 per cent from Europe, and 18 per cent from Africa.
