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Air cargo market may not improve even if economy does

March 16, 2023


The only way to characterize the air cargo market in March is it’s a little less worse than the past few months.

Slight recovery of factory output in China after the Lunar New Year holiday, a rise in manufacturing exports elsewhere and incremental improvement in inflation are helping global demand and rates achieve some sense of seasonal stability after a yearlong slump.

But the outlook remains murky, with green shoots pointing to a second-half recovery against a backdrop of difficult economic conditions. If import/export activity grows, the likely beneficiary will be container shipping lines — not airlines.

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