The global air cargo loadfactor has been steadily rising again in the last few weeks. The current 67% is already at par with the highest peaks of 2018 and 2019. While we are just at the very start of the traditional peak season it will be interesting to see how much further it will climb in the next few months. Put in the context of a maximum global loadfactor of 80% (because of the existing trade-imbalances) one could argue that capacity on front-haul tradelanes is already (very) scarce. No wonder that many parts of the air cargo supply chain are bracing themselves for a bumpy few months.