Airfreight rates expected to shoot up by September

A white and red Austrian Airlines plane, viewed from the side on a sunny day. The reduced number of passenger planes in the skies has reduced space for carrying cargo.

Stability in the airfreight market may be short-lived, with outbound China rates rising this month and big high-tech product launches poised to soak up cargo aircraft in several weeks. That could pinch some shippers that currently view air transport as a refuge from unreliable and expensive ocean shipping, freight transportation specialists say.

The price of shipping by air has dropped about 70% since the spring, when capacity shortages were rampant because of surging medical-supply orders, but...

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