News / Europe to NE Asia airfreight rates soar as airlines focus on the spot market

© Roberto Maggioni

The airfreight spot market from Europe to South Korea and Japan has soared in the past week, its market share up more than 60% and rates up more than 50%.

According to Accenture Seabury data, in the week to 18 March, capacity on Europe-NE Asia was down 22% on mid-February, as carriers cut capacity, owing to the restrictions on flying over Russia. Up to 13 March, capacity to Asia was down 42% versus 2019.

From Europe to South Korea, rates have risen 63%, ...