The annual expected dip in overall global air cargo tonnages over the American Thanksgiving holiday was less than in the equivalent period last year, analysts at WorldACD Market Data have confirmed. Although outbound volumes from North America experienced an anticipated significant dop, outbound yields from the Asia Pacific region continued to rise.
Preliminary figures for week 47 (20 to 26 November) show a -3% decrease in tonnages and a 2% increase in global average rates, compared with the previous week, based on the more than 400,000 weekly transactions covered by WorldACD’s data. Worldwide, weeks 46 and 47 saw overall tonnage fall by -2% compared to 2022, driven by a North American decrease of tonnage by 10% (exactly the same as this time last year).
However, while the impact of Thanksgiving was reflected in a decrease of cargo carried to most areas worldwide, notable positive developments were seen from Africa to Europe (up 7%) and Europe to Central and South America (a rise of 6%). Most of the main origin regions saw record increases in average outbound rates on a two-week-on-week basis, most notably from Asia Pacific (7%), showing a jump in rates to North America and Europe (9% and 8% respectively).
Globally, volumes remain 2% higher above their average year on year, with overall capacity up by 14% (including, notably, cargo from Asia Pacific up by 40%). Worldwide average remain -21% below their levels this time last year, although significantly above pre-Covid levels.