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The CEOs of several major air cargo operators in recent weeks conveyed an optimistic outlook for 2023, yet they also acknowledged that the year will not likely yield the bumper performance the sector realized in 2021 and 2022.

Despite the softening freight market indicators for this year, “it is not all bad news” as most indicators will remain above pre-pandemic levels, Matters stressed. IATA expects cargo revenues to decline to around $149 billion in 2023, from around $200 billion in 2022, but remain “about 50 percent higher than the pre-pandemic level of 2019,” he said. The group also expects cargo’s share of industrywide revenue to further ease to 19 percent—down from 28 percent in 2022 and the peak of 40 percent in 2021—compared with a 12 percent share in 2019.

Dronamics has garnered a €2.5m ($2.6m) grant from the EC’s European Innovation Council (EIC) Accelerator programme for its drone cargo technology.

For a 350kg load, Dronamics claims, its Black Swan drone could produce as little as 135g of CO2 per tonne-km, compared with with 755g for belly freight on a 747-400 aircraft.

Demand for air cargo is soft right now; rates are falling and there is no sign of a peak – but charter brokers remain upbeat.

Meanwhile high-value products are seeing a strong revival post-pandemic. CharterSync noted that this was particularly true in the automotive industry, specifically for the movement of semiconductors, with both intra-EU and intra-US lanes showing renewed demand. Oil & gas is also a growing sector across more time-critical verticals.

CargoLogicAir, the U.K.-based all-cargo airline affiliated with Russia’s Volga-Dnepr Group, appears to be officially going out of business, collateral damage from the invasion of Ukraine.

The airline, which flew two Boeing 747-400 freighters out of London airports, ceased operations earlier this year after the U.K. government sanctioned majority shareholder Alexey Isaykin for signing a deal with the city of Moscow for Volga-Dnepr Airlines to maintain supply chain connectivity with countries in Asia and the Middle East.

IATA’s August 2022 data for global air cargo markets demonstrated the industry’s resilience amid economic uncertainties.

European aircraft framemaker Airbus is now taking orders for the A350F, the next generation production line variant of a successful passenger twin-engine jet, and it will compete head-to-head with Boeing’s B777-8F.

Both freighters have yet to come off a production line, but Airbus hopes to have its first A350F in service by 2025, an anticipated two years ahead of its US rival.

Air cargo has different needs compared to passenger flights and requires equal consideration when government is formulating new policies for the industry – without it, key trade, such as seafood and pharmaceuticals, and UK manufacturing would be significantly impacted as they are reliant on the speed of airfreight.

The 15th IATA World Cargo Symposium (WCS) taking place in London from September 27 – 29 will focus on building resilience to further strengthen air cargo’s post-pandemic prospects.

Mediterranean Shipping Co., the world’s largest container line, will expand into air cargo using four leased Boeing Co. wide-body freighters after missing out in a bid for Italy’s flag-carrier airline.

The new business will led by Jannie Davel, a former managing director of cargo at Delta Air Lines Inc. who has also worked at Emirates and DHL, with the 777-200Fs to be provided by Atlas Air, which will fly them on MSC’s behalf.