News / Hong Kong cargo community in plea for financial help, particularly for airfreight

Hong Kong’s cargo community has warned of looming bankruptcies, particularly in airfreight, unless financial assistance comes from government.

In a letter to the transport ministry, nine logistics groups call for financial relief to survive the havoc in cargo markets due to the coronavirus pandemic.

“Up to 95% of shipments are cancelled, put on hold or disrupted,” said Alice Lui, director general of the Hong Kong Association of Freight Forwarding and Logistics (HAFFA).

“Logistics operators are facing unprecedented threats, tremendous risks from default payment ...