SINGAPORE: The air cargo market is unlikely to grow this year because of the challenges posed in the China market due to the coronavirus, a senior executive at Boeing Co said on Wednesday (Feb 12).
The world’s biggest manufacturer of freighter aircraft had previously forecast air freight would grow by 1 per cent to 2 per cent this year due in part to the United States and China reaching a phase 1 trade deal, said Randy Tinseth, vice-president of marketing at Boeing Commercial Airplanes, the commercial division of Boeing.
“That is going to see pressure as well,” he told reporters of the US-China deal at the Singapore Airshow.
“If we are not seeing goods travel and airplanes fly that is under pressure. I think it is going to be really tough to see the cargo market grow this year.”
The coronavirus crisis has dimmed hopes of a rebound for air cargo after its worst year in the decade since the financial crisis, the International Air Transport Association, a group of 280 global airlines, said last week.