Tariff-driven demand volatility and sector consolidation dominated coverage as shippers adapted routes and forwarders reshaped portfolios
As 2025 got underway, expectations for the air cargo market were low as the industry braced for the impact of the White House’s tariff policy and expectations that the de minimis exemption would be axed, causing US e-commerce volumes to tank.
In the end, the tariffs boosted air cargo demand as shippers looked to rush goods to market, supply chains adjusted to new trade patterns and e-commerce platforms were able to quickly switch their attention to other markets.
It’s not a surprise then that tariffs featured in two of our most-read stories last year, while mergers and acquisitions and our ever-popular top forwarders and airlines articles also made the list.
10. Apollo considers sale of Atlas
In December, reports emerged suggesting private equity firm Apollo was considering the potential sale of freighter company Atlas Air Worldwide Holdings.
Citing “people familiar with the matter”, the newswire said that Apollo is in the early stages of considering whether to sell Atlas and would hope to value the business at around $12bn, including debt.
9. Too early to assess impact of Trump tariffs
Air cargo stakeholders were in a state of tense apprehension in February as they awaited updates on global tariffs from the US and there was uncertainty about what developments meant for the industry.
At the start of the month, a flurry of activity from the White House saw president Donald Trump announce executive orders for an additional 10% tariff on imports from China, a 25% additional tariff on all imports from Canada and an additional 25% tariff on Mexico.
8. Air One receives first 777F for One Air
In August, Air One International Holdings took delivery of its first Boeing 777 freighter for use by its affiliate British cargo airline, One Air, and said it expected a second 777F to be delivered by the end of the year.
7. Top 25 cargo carriers: Major gains in 2024
Global 2024 demand for the top 25 airlines, measured in cargo tonne-km (CTK) was up 9.4% year on year, according to data from the most recent IATA World Air Transport Statistics (WATS) report.
Federal Express (FedEx) retained its spot at the top of the leaderboard, although its year-on-year growth of 1.2% to 18.1bn CTK was slight compared to the other airlines, and especially compared to others in the top 10.
6. Top 25 Forwarders: K+N leads the pack as demand bounces back
Kuehne+Nagel (K+N) retained its position as the top airfreight forwarder in 2024 as the market grew at a rapid rate, led by the e-commerce sector.
Figures provided by consultant Armstrong and Associates show that K+N saw its airfreight volumes increase by 5.5% last year to 2.1m tonnes despite what it described as challenging market conditions.
5. EU approves DSV’s acquisition of DB Schenker
In April, Air Cargo News reported that the European Commission had approved DSV’s planned takeover of DB Schenker following the acquisition announcement in 2024.
Danish forwarder DSV confirmed that it had signed a deal to take over German logistics giant DB Schenker from Deutsche Bahn in September 2024. The €14.3bn purchase deal created the world’s largest freight forwarder.
4. Mexico’s new tariff announcements to put pressure on ‘border skipping’
It was reported in January that companies looking to import goods to North America through Mexico are facing rising costs after the Latin American country announced plans to hike tariffs on apparel imports.
A presidential decree announced that tariffs for textiles imported into Mexico would increase to 15% and up to 35% for finished apparel products until April 2026.
3. Polar Air Cargo JV to come to an end
Atlas Air Worldwide and DHL at the start of the year announced they would close their joint venture Polar Air Cargo after 17 years of operations.
The companies decided that Polar Air Cargo JV was no longer a strategic business interest, according to an Atlas Air Worldwide spokesperson.
2. Qatar Airways resumes flights but Middle East disruption continues
Conflict in the Middle East resulted in Qatar Airways having to temporarily stop flights from Doha after the country’s airspace was closed due to Iran launching missiles against US bases in Qatar and Iraq.
1. Airbus explains the decision to put Beluga airline to bed
In January Airbus took the decision to close its ABT Beluga airline operation just 14 months after gaining an AOC. Explaining the decision, the company said that cargo market conditions were not the reason for [ABT] to close its business. Instead, operational issues were the biggest challenge.
The aircraft required “specific” handling procedures and a dedicated, trained crew for loading and unloading.
