`` Air freight fares '' are rising due to the reduction of passenger flights due to the spread of the new coronavirus

Due to the spread of the new type of coronavirus infection (COVID-19) , measures are being taken to control the movement of people, such as restricting travel and blocking cities, around the world. Along with this, the number of tourists and businessmen using airplanes has dropped sharply, while air freight rates have been reported to have risen sharply.

Air freight rates skyrocket amid passenger flight cuts, Chinese factory restarts-Reuters

Air freight prices jump 'by more than a third' as airlines use passenger space to carry cargo-The Institute of Export and International Trade
https://www.export.org.uk/news/498048/Air-freight-prices-jump-by-more-than-a-third-as-airlines-use-passenger-space-to-carry-cargo. htm

'Absolutely Crazy' Air Cargo Fees Highlight Supply-Chain Squeeze-Bloomberg

Airlines have reportedly suffered more damage than the

September 11 terrorist attacks in the United States due to voluntary restraints and bans on overseas travel following the outbreak of the new coronavirus infection. The number of flights has been significantly reduced due to a decrease in travel demand, and some airlines have decided to temporarily dismiss many employees.

Each country announces support to the aviation industry as `` the damage to the aviation industry due to the new coronavirus is worse than 9.11 ''-gigazine

The decrease in air traffic due to a decrease in the number of travelers has had a significant impact on the transport of air cargo. Half of the world's air cargo is transported around the world in dedicated luggage compartments rather than dedicated cargo flights. However, the reduced number of passenger aircraft has significantly reduced the amount of air cargo that can be transported with passenger aircraft. Carrier Agility Logistics states that the decline in passenger traffic in February has reduced China's ability to transport air cargo by as much as 39%.

With the decline in transportation capacity, airlines are working to increase the cargo transportation capacity by loading cargo into the space where passengers normally sit. Airlines such as Air France-KLM-Martin Air Cargo , Lufthansa , United Airlines , Delta Air Lines , Cathay Pacific Airways , carry priority cargo, including medical supplies, in passenger seats and storage space to carry the most cargo It seems to be.

However, despite the efforts of airlines, the reduction in transportable capacity is causing freight rates to increase. According to the

TAC Index , which provides price information on international air cargo, air freight prices from Shanghai Pudong International Airport to London Heathrow Airport rose 35.2% in the week of late March 2020.

It seems that the rise in air freight due to the collapse of passenger demand seems to have never been experienced before, and it is said that the air fare changes drastically every hour. The following graph created based on the data of the TAC Index shows the upper and lower width (%) of the air cargo fare based on October 7, 2019, and the blue line is from Shanghai to North America, Green represents air freight from Shanghai to Europe, red represents Hong Kong to North America, and black represents air freight from Hong Kong to Europe. From the graph, it can be seen that the air freight rate increased from October 7, 2019 to November, and gradually declined toward the end of February. However, freight rates have risen sharply since the end of February, when the spread of new coronavirus infections worldwide and passenger flights began to decline. In particular, flights from Shanghai to the United States and Europe show that air freight fares have increased by more than 60% compared to October 7, 2019.

In addition, the price of charter aircraft that transports air cargo as well as regular cargo flights has increased significantly. Anthony Lau, chairman of logistics company Pacific Air , said in an interview on March 27, 'Charter aircraft were priced less than $ 300,000 four to six weeks ago, but in the past few days. Now it has risen from $ 600,000 (about 65 million yen) to $ 800,000 (about 86 million yen). ' 'This is absolutely crazy,' Lau complains about the sharp rise in prices.

in Ride, Posted by log1h_ik