The air freight industry is continuing to develop and evolve, with new technologies, initiatives, and partnerships being implemented around the world. In Europe, the European Commission has launched an in-depth investigation into the merger of two airlines, while in Germany a 50-strong team has taken off from Cologne Bonn Airport with 16 tonnes of recovery equipment for Turkey’s south-eastern province. Meanwhile in Asia, Korean Air’s takeover of Asiana is also under close scrutiny.
In terms of freight operations, Scan Global Logistics now has a new majority shareholder in CVC Capital Partners Fund VIII (CVC), while German forwarder Freight in Time has unveiled a sea-air shipment solution for customers. Vienna Airport Pharma Handling Centre saw its volumes increase rapidly last year due to ocean shipping issues and an increasingly global pharma industry. Launceston Airport in Tasmania will receive government funding to upgrade its air cargo facility.
Intradco Global transported 330 cattle from Europe to West Africa on behalf of a longstanding client as part of a large-scale governmental initiative to increase local livestock stocks. GlobalX Airlines Group received approval from the US Federal Aviation Administration for cargo operations and KlasJet began passenger ACMI operations.
Finally, airfreight rates continued their downward spiral in January but are still above pre-Covid levels according to the Baltic Exchange Airfreight Index (BAI). Tonnage stabilised after a quick Lunar New Year recovery but was significantly lower than early 2020.
