Starting the year in lockdown and ending the year in lockdown, it all seems like a scene from the Bill Murray classic film Groundhog Day, but in between we did manage some valuable face-to-face networking. So here’s hoping we can finally kick this nasty virus into touch in 2022! Meanwhile, 2021 proved...
Transpacific airfreight rates into the US have finally begun to fall as the market softens before the holiday week. TAC Index figures from China to the US, which have been on an upwards trajectory since the start of November, have begun to descend, with rates down 8.7% to $13.82 in the week...
BLOOMBERG reports: Goldman Sachs Group Inc. economists cut their forecasts for the U.S. economy this year and next after deciding the spread of the omicron strain of the coronavirus would exert a “modest downside” drag on growth. In a weekend report to clients, economist Joseph Briggs said Goldman Sachs now expects U.S. gross...
Air Cargo Netherlands (ACN) has written a strong letter to the Dutch consumer and markets authority over its concerns that “monopolistic” Schiphol’s attempt to raise airline fees by 37% is “unjustified”. At the end of October, Schiphol proposed new airline charges: 9% in 2022; 12% in 2023; and 12% in 2024. “The cumulative...
BBC reports: A social media post from an account linked to the Chinese Communist Party has sparked controversy for appearing to mock India over its coronavirus crisis. The post on Chinese site Weibo showed an image of a rocket launch in China alongside a photo of the bodies of Covid victims being cremated...
Delta Airlines last year achieved the unenviable distinction of being one of the very few major carriers to see cargo revenues plummet – despite a global average rise in air freight rates of a whopping 75%. Period Q1 2020 Q2 20 Q3 20...
Money clearly means power and air cargo, finally, has won its moment in the sun, a rare gift from Covid-19. Authorities are now starting to consider the industry’s needs and how various challenges can be overcome, just as IATA publishes data showing that air cargo will this year account for one-third of...
The world’s clothing factory, Bangladesh, today announced an ‘all-closed’ week-long lockdown, starting on Wednesday. It includes all factories, transport and shops, and will create uproar among the country’s export-oriented industry. Only the emergency services will remain open, and the movement of people will be severely restricted in a bid to stop the spread...
Major airlines’ financial results for 2020 have revealed both how they viewed cargo, and how successfully they adapted to the new reality; some were far, far better than others. A (non-exhaustive) list of major carriers which have reported results shows just two saw cargo revenues fall – in a year in which...
Countries should lift restrictions on air cargo operations in a bid to improve supply chain connectivity, according to ICAO. In a series of recommendations announced on Friday, following council approval, ICAO is pushing for wider adoption of seventh freedom traffic rights for cargo operators. The organisation’s recommendation 16 states: “Member states are encouraged...
