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Global Air Freight Market Update

95% of the world’s cargo moves in passenger aircraft. Due to COVID-19 and the lack of passenger aircraft operating, cargo is now moving on scheduled freighter services. Capacity remains a challenge.

In general, overall air traffic increased from August, with more and more airlines resuming flights as the gradual reopening of societies continues. While this is a clear trend, it is expected that it will continue to be a slow and gradual recovery for the rest of 2020 and way into 2021.

Increased demand for pharmaceutical and medical supplies continues to push airfreight rates higher and cause space availability issues. Projections show that the capacity shortage in air cargo could last into next year and beyond.

There is likely to be further capacity constraints from China with Golden Week at the beginning of October, coupled with the new product launch for Apple, which will affect space and rates from the Shanghai region.

Dhaka (DAC) air export cargo movement is increasing and this trend may continue until December 2020. Some prime carriers have already increased rate BAR (Best Available Rate) from the first week of September, with others planning to increase rate BAR from the middle of September onwards. Considering limited space availability, carriers are not currently providing any ad hoc rates.

Airport operation is regular, however in the last couple of weeks there has been huge cargo at DAC airport. As maximum FRTR shipment scans have to be through EDS/EDD due to EU compliance, a good number of shipments are piled up in the EDS/EDD area for scanning. As a result, there is some backlog at the airport, which is causing shipments to be delayed for 1-2 days.

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