| Airfreight business is providing a bright spot for Boeing Co. in a troubled aerospace market. Cargo carriers added to their plane orders last month even as the aircraft manufacturer registered more cancellations of passenger jets, the WSJ’s Doug Cameron reports, signaling the resilience of expedited shipping demand despite the coronavirus-driven collapse in airline passenger business. Boeing has an edge over rival Airbus SE in the cargo market with its lineup of freighters, providing some equilibrium for a company that was facing troubles in its 737 MAX program even before the coronavirus hit passenger business. The International Air Transport Association forecasts airlines altogether will lose around $110 billion this year and next. But IATA expects cargo revenues to rise 8.2% in 2020 to $110.8 billion because tight capacity is boosting airfreight rates. IATA says cargo will contribute about 26% of industry revenues this year, up from 12% a year ago. |
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Operations and Supply Chain Management 