Air freight rates ease, but yet to come back down to earth

Rates out of Singapore down by 10-15%, but remain inflated after doubling in April; air cargo the lone bright spot for battered aircraft operators

Nisha Ramchandani

Published Sun, Jul 26, 2020 · 09:50 PM

Airlines

Singapore

AIR freight rates have eased somewhat from the heights scaled in recent months, but remain elevated owing to the ongoing capacity crunch in the air cargo market.

Rates out of Singapore have come down by 10-15 per cent, but remain inflated as they had doubled in April, Singapore Aircargo Agents Association (SAAA@Singapore) chairman Steven Lee told The Business Times.

The quantum of decline is not across the board and varies from market to market. ''Intra-Asia has started to come down, but is not back to pre-Covid days,'' said Mr Lee.

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