Air cargo leaving India has been hit with severe delays because of poor weather and the lingering impact of U.S. West Coast port congestion on world trade, according to a U.S. freight forwarder specializing in air and ocean freight in the Far East.
International Airlines Group’s cargo revenue declined 7.5 percent in 2014 from the previous year, largely because the owner of British Airways and Iberia quit freighter operations.
Freight forwarder Expeditors International saw air freight volume soar in the fourth quarter, reaching a 19 percent year-over-year increase in December, as shippers tried to fly over West Coast port gridlock.
Trans-Pacific air freight markets will continue to benefit from shipper demand as U.S. ports take several months to clear the backlog of containers that stacked up during the protracted waterfront labor dispute between terminals and the union.
Air France-KLM’s cargo losses widened to 212 million euros [US $242 million] in 2014 from 202 million euros in the previous year as a two-week pilots’ strike compounded the impact of a weak global airfreight market.
TNT Express slumped to a 137 million euros [US $156 million] net loss in the fourth quarter of 2014 from a 32 million euros profit in the same period in 2013, driven mainly by restructuring charges tied to an abortive takeover bid by its larger rival, UPS, two years ago.
Panalpina has signed a new five-year agreement with Atlas Air under which it will switch one of the two 747-8 freighters wet leased — an arrangement where crew, maintenance and insurance are also provided — from the U.S. firm to scheduled charters.
Solid freight demand from North American markets saw Cathay Pacific and sister airline Dragonair get the year off to a good start and allowed the carrier to operate an almost full freighter schedule in January.
Shippers between Nairobi and the global flower hub of Amsterdam chartered at least 1,500 tons of additional air freight capacity in the two weeks leading up to Valentine’s Day to ship in flowers from Africa.
With less than a week to the Chinese New Year factory shutdowns and congestion delays frustrating trans-Pacific shippers, DHL is ensuring it has enough air cargo space on its U.S. routes to handle the rising demand.