Air freight rates return to earth as virus-driven boom cools; airlines fret

Topics Freight | airlines | Coronavirus


An air cargo boom driven by demand for protective gear against the coronavirus has peaked and rates, while still 50 per cent above normal levels, are falling in a worrying trend for airlines relying on freight revenue in the absence of passengers.

Declining prices may deal a blow to carriers that are scrambling to move cargo to offset weak passenger revenues as they rebuild networks by flying reopened routes with half-empty cabins. "The early-mover advantage has disappeared and I can see why some of the rates are coming down,".....

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