February and march saw improvements in air cargo traffic thanks to reduced disruptions from Omicron outside of Asia, as well as the end of Chinese New Year. However, an Omicron wave spread in China and certain other Asian countries in February and March, and the war in Ukraine is having an impact on air cargo.
Lockdowns and factory closures in Asia, sanctions related to the war, and shortages of crucial inputs are driving prices higher, and economic activity and trade lower. The following months are likely to be challenging for air cargo.
AIR MARKET UPDATE 042022
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