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Report
Air freight industry braces for 2025
CGTN Europe
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30/01/2025
After a stellar 2024, the air freight industry is bracing for a turbulent year of global trade.
But there is confidence that continuing demand for e-commerce will help overcome some of the challenges.
CGTN’s William Denselow reports from Belgium,
#CGTN #Belgium #Cargo
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Transcript
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00:00
Demand for air cargo has been soaring. The sector saw 12% year-on-year growth last year
00:07
and an 18% rise compared to 2019.
00:11
Ostend Bruges Airport in the north-west of Belgium is seeking to capitalise.
00:16
Competition in airports is very fierce.
00:19
We are facing a real competition, a strong competition between European airports
00:25
to attract this cargo traffic.
00:29
Competition is being fuelled by a booming e-commerce sector.
00:33
It currently accounts for roughly 20% of all air cargo volume
00:37
and analysts expect it to hit 30% by 2030.
00:41
But the industry could be facing headwinds blowing in from Washington.
00:46
Analysts say the threat of widespread tariffs from the Trump administration
00:51
could have a particular impact on the sea freight sector
00:55
and could potentially lead to surging shipping costs as seen in his first term in office.
01:02
Air freight companies may be more nimble in adapting to trade disputes
01:06
but industry experts at the World Cargo Summit are still bracing for impact.
01:12
I expect a lot of micro spikes, micro troughs of demand
01:17
so every participant in the marketplace, be it the shippers and exporters,
01:23
be it the forwarders, airports, cargo airlines,
01:26
will have to kind of have a muscle of dealing with these kind of stop-and-go situations for a while.
01:34
Panelists here, however, say the industry can still achieve modest growth in 2025.
01:40
Our ability to manoeuvre, to manoeuvre based on the changes in trade mix,
01:45
to manoeuvre based on the changes in trade links.
01:49
And so I think overall I'm still optimistic about this year.
01:55
Worldwide demand for goods is expected to remain robust
01:59
but about a third of global freighter aircrafts are over 30 years old,
02:04
the time they're ideally taken out of service.
02:07
This adds financial pressures to a service already facing demands to deliver fresh stock
02:13
and avoid supply delays.
02:16
William Denslow, CGTN, Ostend.
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