Airfreight rate relief for shippers, or are things going to 'turn nasty'?
With air freight rates settling below peak-Covid levels, and the Baltic Air Freight Index slipping ...
Cargo Facts has diligently analysed all the data coming out of air cargo companies in September – to learn that things are not looking so good. But it is worth noting that these are year-on-year comparisons and, as the industry well knows, last year business started to pick up in September and continued well for the rest of the year. Which means this year’s figures from now on in are going to appear fairly miserable.
While the majority of companies surveyed fell slightly or were broadly flat, there were a few exceptions. On the up side, China Southern saw cargo traffic up 10.2% in September, while AirBridgeCargo continued its exceptional run this year with a 28% rise YoY. On the other side of the coin, EVA Air saw cargo traffic fall 12.3%, Air France-KLM, adjusted for the strike impact, saw cargo traffic down 10.8% and British Airways was down 8.4%. Over the Atlantic, LATAM saw traffic fall 12.5% and Delta suffered a 12.4% decline.
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