In all directions, a slight decrease in tariffs and a summer slowdown in demand were recorded.
The latest data from the Baltic Stock Exchange Air Transport Index (BAI) show that average prices for air freight in June fell by 8-11% compared to May this year. The maximum decrease occurred in the direction of Hong Kong - North America ($ 7.89 per kg). Cargo transportation from Hong Kong to Europe fell in price last months to 4.34 per kg, and from Frankfurt to North America to $ 4.07.
After checking the available database for ten years, analysts note that the June rate cuts are in line with the usual seasonal trends in which rates either decline or remain almost unchanged for two months. The same applies to the volume of cargo transportation in June, which is expected to be at the pre-crisis level.
However, despite the seasonal decline, airlines seem to be expecting a peak season. Carriers continue to increase capacity and add charter flights to increase capacity.
Cargo-specializing airlines during a pandemic do not need to rebuild their cargo network to meet strong demand from shippers facing capacity constraints. Among them is ZetAvia, which operates charter flights to the Middle East, Europe and Africa on IL-76 cargo planes.