摘要: |
Beginning with the pandemic, air cargo has been experiencing a wrath of fundamental pressures: record high rates, tight capacity, mounting congestion at key gateways, and ever-present labor issues. However, the Russian invasion of Ukraine now takes the industry into unprecedented territory.Prior to the invasion, indicators pointed to prevailing optimism, with tight capacity conditions loosening. Executives believed that this year, particularly in the second half, passengers would return to air travel, which would mean additional passenger (PAX) flights.Given that 50% of all air cargo is flown on PAX flights, capacity would become available for additional belly freight. The air cargo market has been operating at a 10% capacity deficit because of reduced passenger flights due to COVID, and more capacity would, technically, lower rates. |