08 Feb Air Freight Squeeze. Click to keep reading…
Don’t expect the air freight capacity issues to be remedied any time soon. In fact, they will probably get worse before they get better. The huge reduction in consumer air travel has dented freight volumes, since about fifty percent of freight travels in the belly of widebody commercial airliners. As more and more people get vaccinated, air travel will slowly return to normal levels, but it won’t happen quickly. According to Accenture.com, Global air cargo capacity declined 16% in the last two weeks compared to last year. At the start of 2021, the Transpacific trade lane continues to show capacity growth; capacity for other key trade lanes shows double-digit declines.
Additionally, the need to ship large volumes of vaccine by air will further strain capacity, and will increase the costs for other shippers. Some of the doses must be shipped by air to minimize time spent outside of supercold storage.
As with all things related to COVID-19, there are many variables at play, and it is difficult to predict when life will start to return to normal.
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