The past 12 months have been another tough period for the air cargo market as a sluggish global economy transferred through to weak air cargo volumes.
However, airfreight rates and revenues remained above pre-covid levels and e-commerce and other special product categories continued to support the market. There were also improvements as the year progressed.
Looking ahead, industry commentators are expecting 2024 to start slowly but show signs of life in the second half of the year.
It was also a busy year for the Air Cargo News website as page views reached more than 2.9m.
10) FedEx to ground more planes as profits come under pressure
In June of last year, express giant FedEx announced it would ground more aircraft after both revenues and operating income declined during its fiscal fourth quarter of the year due to “demand weakness and cost inflation”.
9) 10 people charged with defrauding Polar Air Cargo Worldwide
In April, the US Department of Justice charged 10 people with defrauding freighter operator Polar Air Cargo.
8) FedEx reorganises air network
There were most cost-saving measures implemented by FedEx as the year drew to a close, with the US firm reorganising its air network to better suit the demands of various shipment types.
7) Former Antonov director charged with “negligence” over AN-225 freighter loss
The year also saw the former head of Antonov being charged with alleged “negligence” following the destruction of the Antonov AN-225 “Mriya” aircraft at the start of the Ukraine-Russia war.
6) DB Schenker sale process underway as firm is officially on the market
One of the big ongoing stories of the past couple of years has been the potential sale of DB Schenker. In December, the sale process was finally launched.
5) Panama and Suez Canal double crisis threatens global supply chains
Persisting Suez Canal and Panama Canal-related supply chain delays and increased rates hit the headlines in December as there was some speculation that the issues could see companies turn to air cargo.
4) Top 25 air cargo carriers: Cargo airlines tackle tough times
Our annual summary of airline's cargo volumes was our fourth most-read story of last year as FedEx retained top spot despite reporting a 5.4% decline in traffic.
3) Top 25 air forwarders: K+N extends its lead on DHL
Kuehne+Nagel (K+N) in 2022 extended its lead over DHL as the world’s busiest airfreight forwarder while market conditions took their toll on overall forwarder volumes.
2) Atlas Air expects takeover to complete in days
One of the biggest players in freighter leasing was taken over in 2023. Readers were keen to find out more about the deal in the days before it was finalised.
1) DB Schenker to be sold as a complete unit and not split up
Our most-read story of the year came in September as news emerged that Deutsche Bahn will sell its logistics business, DB Schenker, as a complete unit rather than splitting it up into smaller units.
