Airfreight rates ease from peaks but remain elevated amid passenger flight cancellations

AIR freight rates are marginally lower compared with the record highs achieved during the holiday rush in early to mid-December. This is despite a raft of flight cancellations which have trimmed the belly capacity from passenger aircraft.

That being said, they are still extremely elevated.

For co-founder and chief executive officer of Quincus Jonathan Savoir, this is a sign of freight demand stabilising, as people have "better adjusted to living with Covid-19".