Panalpina Reaches Air Freight Milestone for 2018
Specialists in intercontinental air and ocean freight and associated supply chain management solutions, Swiss-based Panalpina recently completed their third charter to New York City in less than a month for one of their clients in the fashion industry.
The aircraft used for the transport was The Spirit of Panalpina Boeing 747-8F that arrived at JFK Airport in New York loaded with fashion items from both Italy and Switzerland. This flight helped Panalpina reach a significant milestone for 2018 as they passed the 1 million tons of Air Freight mark for 2018.
Global head of Air Freight for Panalpina, Lucas Kuehner commented, “With 12 days left of the year, we will reach the highest volume in our company’s history for the second year in a row,”
Mr. Kuehner continued, “This was to be expected. 2017 was really an exceptional year with market growth of 10%. We estimate air freight market growth for 2018 to come in at 3-4%, which, in absolute numbers, still signifies good growth.”
Over the past year, air cargo carriers have managed their capacities well, resulting in a lower share of allocations and block-space agreements along with higher rates of 15-20% on selected trade lanes.
Mr. Kuehner explained, “The disciplined capacity management gave the carriers room to play in the spot market in anticipation of higher rates and potentially more attractive ad-hoc charters during peak season. As a result, capacity has been scarce on selected trade lanes. The few freighters that were delivered in 2018 mostly went to the integrators, adding to the capacity crunch.”