Page 13 - STAT June 2023 Latest Issue

carriers is low and this situation particularly that Q4 will give an actual indication of had ended all Covid measures, and we
occurred during the Coronavirus pandemic. market conditions and that the industry subsequently had to deal with the shock to
will probably have to wait until 2024 for a the market due to the Russian invasion of
Early trends sustained market improvement. Ukraine and increase in oil prices. Looking
While the return of ocean freight and belly Demand for air cargo is impacted by ahead, we do not see a significant recovery
capacities may have some effect on the multiple factors and ocean freight capacity on the major trade lanes, unless perhaps
overall demand for cargo air chartering, and belly capacity certainly are also two for Q4, but we have every confidence
verticals that have continually contributed key aspects. the niche requests will continue to come
to the growth of cargo air chartering Speaking on the same, Conor Bran- through and this is where Magma Aviation
include automotive, dangerous goods, nigan, Magma Aviation CEO said “We offers a lot of value.”
mining/oil & gas, oversized cargo, pharma, have seen a consistent decline in air cargo Simon Watson, Co-founder and Direc-
and humanitarian sectors. market conditions since March 2022, which tor, CharterSync told The STAT Trade Times,
While many stakeholders believe sea is perhaps not surprising given the fact “Even with the “normalisation” of volumes
freight return has had no impact on air most major global in shipping and belly cargo, we have seen
cargo charter volumes, few believe economies no impact on our air cargo charter volumes

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