The major Gulf airlines are getting back on track in the air freight business.
According to market data, Qatar Airways transported about 28 percent more cargo in May. Emirates' increase was 17 percent, while Etihad reported a 6 percent rise.
This indicates that the capacities over Doha, Dubai, and Abu Dhabi are slowly returning. Qatar Airways claims to have restored approximately 85 percent of its prior route network.
For shippers, more capacity typically means lower prices. However, that is not yet the case at the moment.
WorldACD recently reported a global average price of 3.23 USD per kilogram. This is about 34 percent higher than a year ago.
The market remains expensive. While more planes are flying again, space is still tight on many routes. Freight forwarders continue to report long lead times and limited availability, particularly from Asia, India, and Southeast Asia.
Additionally, lower oil and kerosene prices do not immediately translate to lower air freight rates. Airlines and forwarders are first waiting to see if the situation truly stabilizes.