EXPD · 10-Q · 2026Q2 · Full report

Airfreight Demand and Capacity

EXPEDITORS INTERNATIONAL OF WASHINGTON INC · 2026-08-05 · Importance 69 · Surprise 64 · From source text

Airfreight revenue increased 57% in the second quarter and 36% in the first half of 2026, reflecting higher demand from technology customers. Second-quarter tonnage rose 14%, with the strongest increases on exports from North Asia and South Asia. Average sell and buy rates increased 44% and 45%, respectively, in the quarter, as higher carrier costs were passed through to customers. Middle East conflict-related disruptions, constrained capacity, and higher jet fuel prices increased buy rates most significantly on exports from North Asia, South Asia and Europe.

Key facts

• Airfreight services revenues and expenses increased 57% and 62%, respectively, during the three months ended June 30, 2026, due to 44% and 45% increases in average sell and buy rates, respectively, and a 14% increase in tonnage. source
• Airfreight services revenues increased 57% for the three months ended June 30, 2026 compared to the same period in 2025: $1,494,842 thousand versus $951,787 thousand. source
• Average sell rates for airfreight increased 44% for the three months and 28% for the six months ended June 30, 2026 versus 2025; average buy rates increased 45% for the three months and 31% for the six months. source
• Tonnage for airfreight increased 14% in the three months and 10% in the six months ended June 30, 2026 compared to 2025. source

Impact estimates