Air cargo slumps in March as war, China lockdowns take toll

A pallet of cargo with netting sits on tarmac with a large freighter in the background. The air freight recovery stumbled in March because of the Ukraine war and other factors.

The war in Ukraine, sanctions on Russia and stepped-up COVID lockdowns in China caused the air cargo market to contract in March and macroeconomic clouds could further dampen a sector that has performed well during a chaotic pandemic, according to new analyses.

The impact is being felt in freight rates, which are quickly climbing as capacity disappears faster than demand.

Clive Data Services, an independent airfreight benchmarking service owned by Xenata, reported Wednesday that shipment volumes...

https://www.freightwaves.com/news/air-cargo-slumps-in-march-as-war-china-lockdowns-take-toll

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