Wall Street

Air freight demand begins to wane amid global economic shocks

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Reuters UK

By Alexander Cornwell and Jamie Freed DUBAI (Reuters) -The strong cargo demand that helped passenger-deprived airlines stay afloat during the pandemic is showing signs of softening amid growing economic uncertainty, in part, fuelled by decades high inflation. A potential weakening of the air freight market coincides with growing concern in the aviation industry that surging passenger traffic, which has reduced airlines’ reliance on cargo revenue, may be fleeting. The Baltic Air Freight Index, which shows weekly transactional rates for general cargo fell 8.7% last week, while the airlines group…

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