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With such low rates, air freight is unsustainable and up in thin air
GLOBAL air freight rates remain well below pre-crisis 2007-2008 levels, a situation that "is not sustainable and cannot be in anyone's interest," prompting criticism that the entire air freight industry is "operating in thin air."
According to Panalpina's air freight product management head Raoul Wintjes, challenges including modal shift and over-capacity in both air and sea freight are impacting air cargo volumes and yields while high fuel prices persist.
In spite the withdrawal of large numbers of freighter aircraft from the market, deliveries of new freighter and passenger aircraft in the years since have led to today's tough operating environment where over-capacity continues to plague the global industry.
Yet, he admitted that the extent of the over-capacity or, in some cases under-capacity, was very dependent on individual trade lanes and could also vary from day-to-day and by seasonal demand.
According to Panalpina's air freight product management head Raoul Wintjes, challenges including modal shift and over-capacity in both air and sea freight are impacting air cargo volumes and yields while high fuel prices persist.
In spite the withdrawal of large numbers of freighter aircraft from the market, deliveries of new freighter and passenger aircraft in the years since have led to today's tough operating environment where over-capacity continues to plague the global industry.
Yet, he admitted that the extent of the over-capacity or, in some cases under-capacity, was very dependent on individual trade lanes and could also vary from day-to-day and by seasonal demand.
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