In 2024, international air freight prices present a more complex situation, with the following main features:

Overall relatively stable, but some routes fluctuate:
At the beginning of the year, air freight demand and prices were relatively stable. Air freight executives of the International Air Transport Association (TIACA) expect air freight demand to remain stable or slightly higher than the 2023 level this year. For most of the first half of the year, freight rates remained stable, but this stability was achieved under the condition of relatively sufficient capacity.
There are large price differences between different regions and routes. Some major trade routes have certain price fluctuations due to various factors. For example, affected by the Red Sea crisis, some goods that were originally transported by sea have turned to air transport, and the increase in air transport demand on trade routes such as Asia to Europe has driven up prices on related routes.

Affected by cost factors, prices have certain support:
Fuel prices are one of the important factors affecting air freight prices. In 2024, fuel price fluctuations will still have a significant impact on air freight costs. Higher fuel costs will increase airline operating costs, which will provide certain support for air freight prices.
In terms of operating costs, labor costs, airport service fees, etc. also affect air freight prices to a certain extent. Inflation in the past two years has also pushed up the costs of airlines, which will also be reflected in air freight prices.

The characteristics of off-season and peak season still exist, but the off-season is not off-season:
Traditionally, the air freight market has off-season and peak season. Generally speaking, the period of more holidays and strong consumer demand such as the beginning and end of the year is the peak season for air freight, and the price is relatively high; while some periods in the middle of the year are relatively less demand, which is the off-season, and the price will drop.
However, the freight volume from May to June 2024 showed a “not off-season” situation, mainly due to the booming development of e-commerce and the continued and stable increase in the demand for non-e-commerce cargo transportation such as electric vehicles, precision instruments, and medical supplies.

The market competition is fierce, and the price difference varies from company to company:
The international logistics market is highly competitive, and major international express companies and many international freight service providers are constantly adjusting their freight policies and service standards. For example, international express companies such as FedEx, DHL, and UPS have fierce price competition in different regions and businesses, and their price differences also vary due to factors such as the timeliness and scope of the service.