Global air cargo volumes rebounded in the week of 12–18 October, 2026 as Asian exports recovered following the Golden Week holiday period, with chargeable weight rising 2% week on week and global air freight rates increasing by 4%, according to the latest figures from WorldACD Market Data. The recovery was led by a 9% increase in chargeable weight from Asia Pacific, offsetting declines across North America, Central and South America, the Middle East and South Asia (MESA), Europe and Africa. Global available capacity also rose by 2%, rGlobal Air Cargo Volumes Rise 2% as Asian Exports Rebound; Rates Climb 4%, reversing two consecutive weeks of 1% declines as airlines expanded freighter operations. North America recorded a 5% week-on-week decline in chargeable weight, partly reflecting public holidays in Canada and the US. Central and South America fell by 4%, while MESA declined by 3%. Europe and Africa registered smaller contractions of 2% and 1%, respectively. Asia Pacific Drives Transpacific Growth The resumption of factory and export activity following Golden Week and mid-autumn festival holidays propelled Asia Pacific volumes higher, particularly on routes to the US and Europe. Chargeable weight from Asia Pacific to Europe rose 13% week on week, while shipments to the US increased 10%. On the transpacific trade lane, volumes from Hong Kong and mainland China to the US surged 27% and 18%, respectively. Shipments to the US increased across all Asian origins except Japan, where volumes stabilised following the post-Silver Week recovery. South Korea led growth on Asia–Europe routes, with volumes rising 34%, followed by China at 22%, Singapore at 16% and Hong Kong at 11%. However, European-bound shipments from Vietnam, Japan and Malaysia declined. Year on year, Asia Pacific chargeable weight to the US was up 14%, reflecting continued demand for artificial intelligence-related shipments and other technology cargo. The picture was weaker on routes to Europe, where volumes fell 16% compared with the corresponding period in 2025. Hong Kong recorded a 32% annual decline in shipments to Europe, which WorldACD partly attributed to European Union measures aimed at curbing e-commerce parcel imports. Volumes from China and Vietnam declined 12% and 10%, respectively, while South Korea was the only Asian origin to post double-digit annual growth, increasing 14%. MESA Shipments Reveal Contrasting US and European Trends Air cargo volumes from the Middle East and South Asia weakened during the week, with shipments to Europe falling 6% and those to the US declining 4%. Sharp reductions from Dubai and Sri Lanka contributed to the slowdown in US-bound traffic, while shipments from India decreased 2%. On routes to Europe, volumes from Sri Lanka fell 15% and those from India declined 7%. Dubai bucked the trend, recording a 5% increase. Annual comparisons, however, showed stronger performance on the US-bound trade lane. MESA chargeable weight to the US rose 24% year on year, supported by increases of 34% from India and 44% from Bangladesh. In contrast, volumes to Europe fell 13%, with Sri Lanka the only origin to avoid a decline. Capacity and Rates Rise as Peak Season Approaches Global air cargo capacity increased 2% week on week after declining in each of the previous two weeks. Asia Pacific led the expansion with a 6% rise, while capacity from Europe increased 2% and from North America and Central and South America rose 1% each. Africa and MESA recorded 2% reductions. Across the two-week period covering weeks 41 and 42, capacity remained 1% below the preceding fortnight but was 2% higher than in the corresponding period of 2025. Air cargo rates strengthened across all origin regions except Africa, where prices declined 4%. Rates rose 4% from Asia Pacific, 3% from Central and South America, 2% from MESA, and 1% each from Europe and North America. The two-week comparison showed global rates up 1%, while the year-on-year picture was markedly stronger: worldwide air cargo rates were almost 30% higher than a year earlier. MESA recorded the steepest increase at 61%, followed by gains ranging from 25% to 29% across Europe, Asia Pacific, North America and Africa. Central and South America registered a more moderate 7% rise. Transpacific Rates Strengthen amid Technology Cargo Demand Rates from Asia Pacific to the US increased 6% week on week, while those to Europe rose 1%. Singapore recorded a particularly sharp 23% increase in rates to the US, with most other Asian origins posting single-digit gains. Indonesia remained unchanged. On Asia–Europe routes, most origins recorded single-digit increases, while Thailand was unchanged. Rates from Vietnam slipped 1% and from Japan fell 8%. Compared with the same period in 2025, Asia Pacific rates to the US were 41% higher, with increases of 34% to 48% across most routes. Rates to Europe rose 25% on average, ranging from a 16% increase for Hong Kong to 56% for Indonesia. WorldACD noted that robust artificial intelligence-related cargo flows had strengthened expectations for a strong peak season on transpacific routes. The outlook for Asia–Europe traffic was less certain, however, as changes to EU import rules threatened to add pressure to e-commerce shipments. From 1 November, a €2 handling fee is due to apply to non-EU e-commerce imports, in addition to the €3 customs duty per item introduced on 1 July 2026 for low-value consignments worth up to €150. As the industry enters the final months of the year, the latest data point to a market shaped by recovering Asian export activity, firmer freight rates and expanding capacity, alongside diverging demand across major trade lanes and continued uncertainty over e-commerce flows into Europe.