Race to get goods out of Asia to the US by air as July deadlines loom
Demand may have plummeted on ocean transpacific lanes, but there is still just about time ...
WTC: RIDE THE WAVEFDX: TOP EXEC OUTPEP: TOP PERFORMER KO: STEADY YIELD AND KEY APPOINTMENTAAPL: SUPPLIER IPOCHRW: SLIGHTLY DOWNBEAT BUT UPSIDE REMAINSDHL: TOP PRIORITIESDHL: SPECULATIVE OCEAN TRADEDHL: CFO REMARKSPLD: BEATING ESTIMATESPLD: TRADING UPDATEBA: TRUMP TRADE
WTC: RIDE THE WAVEFDX: TOP EXEC OUTPEP: TOP PERFORMER KO: STEADY YIELD AND KEY APPOINTMENTAAPL: SUPPLIER IPOCHRW: SLIGHTLY DOWNBEAT BUT UPSIDE REMAINSDHL: TOP PRIORITIESDHL: SPECULATIVE OCEAN TRADEDHL: CFO REMARKSPLD: BEATING ESTIMATESPLD: TRADING UPDATEBA: TRUMP TRADE
IATA has released its figures from 2020 for air cargo, which came with a miserable headline, which utterly failed to reflect the realities of the year for cargo carriers.
“2020 worst year for air cargo demand since performance monitoring began in 1990,” it said.
That may well be true, but capacity shrank even more, and prices were, as we all know, pretty healthy indeed for carriers. Does year-on-year demand matter much if there’s no capacity and rates are already high? Probably not. No one is shedding any tears for all-cargo airlines right now.
In fact, the contraction in capacity was more than double the contraction in demand. Perhaps the headline should instead read: “2020 best year for air cargo yields since monitoring began.”
Anyway, here is the full report, which is more upbeat, noting a “robust” end to the year and record highs in yields and revenues.
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