The IATA Cargo Insights December 2024 report flags continuing ULD shortage across European-Asian air freight networks, particularly affecting AKE and PMC pallets needed for belly cargo on 777-300ER and A350-1000 widebody passenger aircraft. The shortage stemmed from the 2020-2022 capacity rationalisation that reduced active ULD pools materially across major carriers. Recovery through 2025-2026 depends on conversion programmes (737-800BCF, 767-300BCF) entering service.
Freighter Operator Network Density
DHL Aviation operates dozens of converted 767-300Fs from Cologne, Leipzig and Liege hubs to Asia and Americas. AF Cargo holds dedicated 777F frames flying Paris-Beijing and Paris-Shanghai. Lufthansa Cargo runs a fleet of 777Fs from Frankfurt, with the carrier’s short-haul cargo conversion programme adding capacity through 2026 deliveries. Cargolux operates a sizeable fleet of 747-8Fs from Luxembourg, focusing on the Hong Kong, Shanghai and Zhengzhou rotations as Europe’s specialist long-haul cargo carrier.
Asian Cargo Carrier Network Expansion
China Eastern Cargo and China Cargo Airlines absorbed into China Cargo Airlines under SF Express partnership ownership operate dozens of freighters across China-Europe rotations. AirBridgeCargo, the Russian Volga-Dnepr subsidiary that previously dominated Asia-Europe freighter traffic, remains grounded since 2022. The capacity vacuum fills through SF Airlines, Cainiao (Alibaba), and YTO Cargo Airlines on the China-Europe corridor.
E-Commerce Demand and Capacity Allocation
Shein, Temu and TikTok Shop volumes from China to Europe grew substantially during 2024 per Cargolux’s trading updates. The express integrators including DHL Aviation, FedEx Express, UPS Air Cargo absorb the e-commerce parcels into overnight rotations. The annual peak in September-October ahead of Black Friday and Christmas continues to stress capacity, with rate increases of approximately 25-35% on the China-Europe spot market versus contract pricing during the seasonal surge.