US Carriers See Mixed Q1 for Cargo as United Adds ‘Disruption Fee’

Why It Matters

United’s fee signals a shift toward cost‑pass‑through pricing as fuel prices pressure margins, while the strong gains at American and Delta highlight divergent strategies that could reshape U.S. air‑cargo competition.

Key Takeaways

• United Cargo Q1 revenue fell 1.6% to $422 million.
• United introduced a weight‑based Market Disruption Fee effective May 1.
• American Airlines cargo revenue jumped 12.9% to $214 million.
• Delta cargo revenue rose 9% to $226 million despite global tonnage dip.

Pulse Analysis

The first quarter of 2026 underscored the volatility facing U.S. air‑cargo operators. Ongoing conflict in the Middle East and a steep rise in jet‑fuel prices have squeezed margins, prompting carriers to reassess pricing structures. United Cargo’s modest revenue decline to $422 million reflects both reduced shipment volumes and heightened cost pressures, while the broader market saw a 4% year‑on‑year drop in global freight tonnage, according to WorldACD data.

In response, United introduced a “Market Disruption Fee” that applies to airway bills issued after May 1, calculated on chargeable weight. The fee is designed to recoup higher supplier and fuel expenses, effectively shifting part of the cost burden to shippers. Analysts expect the fee to influence pricing negotiations, especially for high‑weight, time‑critical shipments such as medical and military cargo, which United moved 9 million and 257,000 pounds of respectively in the quarter. Competitors may follow suit if fuel price trends persist, reshaping the cost landscape for U.S. freight forwarders.

Meanwhile, American Airlines and Delta demonstrated resilience, posting double‑digit cargo revenue growth—$214 million and $226 million respectively. Their gains were driven by strategic capacity adjustments, premium service offerings, and targeted marketing to e‑commerce and pharmaceutical clients. As fuel costs remain a wildcard, these carriers are leveraging ancillary revenue streams and operational efficiencies to protect profitability. The divergent performance among the three majors suggests that agile pricing tactics and diversified cargo portfolios will be critical determinants of market share in the coming quarters.