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Air freight prices surging in a “perfect storm”


The very brief recap of the politics of this economic crisis is that the major indices the algorithms that drive them took great heart day from indications that Congress and the White House have come to terms on a trillion plus dollar economic. Rescue package. Rescue is probably a better word than stimulus just as random observation because industry by industry indications are that there's not much activity left to stimulate restaurants and hospitality MOMS and pops throughout this Konami big companies to like airlines. So let us talk trade as a way into our news today because with airlines all but shutting down air freight is getting. Oh so much. More expensive commercial airlines are trying to meet the demand but that transformation from passengers packages is not as simple. As you might think marketplace's Sabrina sure starts us off. The price increases for airfreight. Internationally are insane alone to London to. Us lades wandering twenty eight percent and along the front foot to us laid out of nine percent increase over the last week. Peter Stallion A freight derivatives broker. At F I S. The prices have surged because the capacity available in passenger. There's no longer running on a lot of international. Flights passenger jets are also carrying cargo. Usually eighty percent of cargo. Travels this way. Those passenger flights have evaporated at the same time. Demand has ramped up for example for medical supplies. So we of have this perfect storm. Neil Jones Shaw is executive vice president for flex port and Industrial Shipping Company. He says Passenger Airlines are taking advantage of surging cargo prices and adapting most of the major airlines around the globe. They're all offering what they called. Many freighters loading up passenger planes with cargo. It is not an easy thing to do. Physically or economically Samuel Angle is senior vice president at ICF airfreight is directional. There's a lot more air freight that comes into the US from China for example than the other way around. So what you're asking is to use half of the plane largely in one direction to cover the costs or profit that would have been covered by the whole plane in both directions. That's a tall ask for now. Prices are high enough for that to work for now in New York. I'M SABRINA SURE. For

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