Coronavirus is spurring growth in air cargo industry
Last updated 11/19/2020 at 12:09pm
It’s no secret that airlines and airplane manufacturers have been clobbered by the coronavirus pandemic. Particularly hard hit are international flights traditionally flown by jumbo jets. Borders are closed and people aren’t flying.
There is a small silver-lining. Just as restaurants started take-out service to survive, airlines are filling planes with freight.
U.S. airlines are reeling from the pandemic and have lost more than $20 billion combined in the last two quarters. Even with the surge in air freight rates, cargo revenues aren’t enough to make up for those losses on their o...