Air cargo carriers have low expectations for the summer months but are expecting a traditional fourth-quarter peak season to lift volumes and help counter excess capacity and falling yields.
Global air cargo traffic grew 2.1 percent in May from a year ago, the lowest monthly increase in 2015, as volume contracted in North and South America and Europe, according to the International Air Transport Association.
Freight forwarders and logistics providers today hailed a government-appointed commission’s call for a third runway to be built at London Heathrow airport, Europe’s fourth largest air cargo hub.
The UK’s air freight shippers are nervously awaiting the publication of a long-delayed report that will recommend either London Heathrow or nearby Gatwick as the best site for a new runway in the crowded southeast of the country.
FedEx has formally asked European Union competition regulators to approve its 4.4 billion euro bid ($4.9 billion) for TNT Express two years after they rejected a planned 5.2 billion euro takeover by its U.S. rival United Parcel Service.
China’s three largest cargo airlines will join forces to form the largest air freight carrier in Asia, according to a senior official at the Civil Aviation Administration of China, mainland state media reported.
The transportation focus of China’s One Belt One Road strategy has so far been on improving maritime and rail links with Europe, Asia and Africa, but Beijing this week brought aviation into the picture, and in a big way.
The first five months the year were good to Asian air cargo carriers that recorded a 6.3 percent increase in demand for international air freight compared to the same period last year, according to the Association of Asia Pacific Airlines (AAPA).
Asia-U.S. air cargo freight rates have continued to slide as port operations on the West Coast have sharpened up since the crushing congestion at the beginning of the year, according to data from Drewry.
Global economic uncertainty and a slowing China continues to hang over cargo markets, with air and ocean transportation providers struggling to match capacity to demand while having little visibility going into the second half of 2015.