DHL Global Forwarding reported stronger revenue in the second quarter of 2026, driven mainly by its airfreight operations, according to Air Cargo News.

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The Bonn-based forwarder saw second-quarter revenue rise 17.9% year on year to €5.4 billion, while earnings before interest and tax increased 21.9% to €240 million.

Airfreight led the revenue gains, climbing 30.4% year on year to €1.9 billion. Ocean freight revenue rose 8%, and road freight was up 8.5%.

The airfreight revenue increase outpaced a 7% volume gain to 473,000 tonnes, indicating that higher rates, rather than volume alone, drove the improvement. Freight rates have been rising this year due to higher fuel prices, reduced bellyhold capacity from the Middle East conflict, and a surge in demand for AI-related shipments.

Airfreight revenue reached its highest level since the fourth quarter of 2022, while volumes were the highest since the second quarter of 2022. For comparison, Kuehne+Nagel reported second-quarter volume growth of 2.8%, and DSV saw a 10% increase.

In the first half of the year, overall forwarding revenue was supported by volume growth and volatile freight rates, the company said. Airfreight volume growth came mainly on trade lanes from Asia and Latin America, helped by resilient Asia-related routes and hyperscaler demand.

The express division also performed strongly in the quarter, with revenue up 21.5% year on year to €7.1 billion. International volumes rose 9.4%, and domestic volumes increased 5.2%. International express revenue improved 20%, while domestic revenue was up 13.4%.

Express performance benefited from constraints in the air cargo market. The company noted that in a persistently volatile market, DHL Express saw a gradual rise in weight transported across its network, and capacity constraints in air freight had a positive earnings effect of around €150 million.

DHL Group chief executive Tobias Meyer said the strong revenue and earnings performance in the second quarter shows that consistent execution of strategic measures is paying off. He added that higher productivity and efficiency, combined with the strength of the global network, allow the company to capitalise on growth opportunities and convert revenue growth into even stronger earnings growth. Meyer also said that in an environment shaped by geopolitical tensions and shifting trade flows, customers benefit from the company’s global presence, local expertise, and operational flexibility, which helps them adapt supply chains to changing conditions while ensuring reliable logistics.

Source: IndexBox Market Intelligence Platform