Cargolux and AtlasAir – two of the largest independent airfreight operators, both warned that Trump’s trade tariffs were stifling business and trade, and were at the top of their list of problems the industry faced in 2020.
Other issues include the ongoing issues in Hong Kong which are fast approaching 12 months of continuous unrest, depressing trade and pushing Hong Kong into recession as the population refuses to gibe up on trying to get some degree of democracy in the city, against the will of ‘communist’ China.
Bot operators say they expected the first six months of the year to be difficult, with a slight improvement towards peak season at the end of the year, but that it was not going to be a record year.
Conversely, the express air freight parcel companies are doing reasonably well as e-commerce continues to transform the market place.
2019 was a very disappointing year for air freight, with results patchy and inconsistent. Regional and short haul cargo did well in the Far East, compared to the larger international carriers.