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Air cargo market volumes in May dropped 8% year over year as rates declined 10% from April. The air freight market continues to feel pressure from such macroeconomic events as the war in Ukraine, higher cost of living and interest rates, stock market dips and COVID-19-related restrictions in China, according to today’s monthly update
The demand for both sea containers and air cargo has declined
The progress made in airfreight recovery since capacity quickly exited the market in April 2020 stalled in March, interrupted by the fallout from the Ukraine-Russia war and lockdowns in China. Courtesy of Xeneta. Cargo volumes in March were down 4.5% year over year and 6.5% from March 2019 levels, according to today’s monthly update from
Protecting freedom in Ukraine will require economic sacrifice by many. Air cargo is already feeling the pinch.
The air cargo market is very strong, but the latest January numbers are deceiving.