• Global air cargo demand rose 9 percent year on year in June 2026, the strongest increase of the year, lifting first-half growth to 5 percent, according to DHL.
• Global capacity remained flat, while China-Europe freighter capacity fell 12 percent and Middle East and Africa capacity stayed 4 percent below last year.
• DHL said semiconductor, AI hardware and industrial technology shipments supported strong Asian demand, while weaker China-Europe e-commerce flows began releasing freighter capacity for higher-yield cargo.

Global air cargo demand recorded its strongest year-on-year growth of 2026 in June, rising 9 percent compared with the same month last year and bringing first-half growth to 5 percent, according to DHL’s latest Air Freight Market Update. The logistics company said global air cargo capacity remained broadly flat year on year as of 20 July, with increases in North America and transpacific markets offset by lower capacity in Europe, the Middle East and Africa (MEA), and China.

DHL noted that China-origin e-commerce growth is beginning to flatten following changes to the European Union’s de minimis rules, freeing main deck freighter capacity for higher-yield industrial shipments.

Capacity between Asia and Europe continues to face pressure from regulatory changes and disruptions to Gulf airspace. According to the report, China-Europe freighter capacity declined 12 percent year on year, while capacity across the Middle East and Africa remained 4 percent below 2025 levels. In Europe, geopolitical developments continued to affect air freight schedules and routing, extending transit times and increasing operating costs. Despite some stabilisation in fuel markets, airlines maintained elevated fuel surcharges, while healthy demand and limited capacity flexibility continued to support freight rates.

Asia remained the strongest-performing region, with outbound demand increasing 12 percent year on year in June, driven by semiconductor shipments, AI hardware and industrial technology exports. DHL said demand is expected to remain firm over the next 30 to 60 days, although volumes between China and Europe will require close monitoring following weaker e-commerce flows. In the Middle East and Africa, renewed geopolitical tensions slowed the positive momentum that followed the June ceasefire framework. Airlines continued to operate tactical routings and enhanced risk management procedures, although regional demand remained resilient, supported by time-critical shipments and cargo shifting from disrupted ocean freight services.

Across the Americas, DHL reported stable capacity to Europe, while some routes to India and Australia remained constrained. Capacity shortages were also reported on selected Latin American routes from Mexico, while perishables exports continued to drive strong cargo demand from Guatemala, El Salvador and Peru. The report also highlighted recent market developments, including the introduction of a new US tariff regime on 24 July 2026, applying country-specific duties of 10 percent and 12.5 percent to imports from 60 trading partners. Meanwhile, Cathay Pacific postponed the resumption of services to Dubai and Riyadh, while LATAM Airlines confirmed plans to expand its fleet to around 410 aircraft by the end of 2026.

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