Cargo tonnages dip after flight cancellations in Asia and national holidays across Europe

Flight cancellations in northeast Asia and national holidays across several European countries have contributed to a mid-August fall in air cargo tonnages, according to market data from WorldACD.  Tonnages during week 33 of 2024 (August 12 to 18) dipped by 7% in comparison to the previous week. Rates in Asia dropped by 9% while dropping 11% in Europe. This drop in Asia was due to flight cancellations out of Japan, caused by Typhoon Ampil. Similarly, the 11% decline in Europe was mostly driven by national holidays held across the continent. On the pricing side, average worldwide rates – based on