AIR CARGO shippers on Asia to Europe lanes are expecting a rate increase after much of the capacity has come out of the market, reports London's Loadstar.
The EU and UK ban on Russian aircraft saw Volga-Dnepr Group's AirBridgeCargo (ABC) remove all its aircraft from Europe.
ABC has fifteen 747Fs, and one 777F in its fleet.
The aircraft are either in Russia or operating to destinations in Asia, primarily China.
However, Asia-Europe is its key operating region. Volga-Dnepr Airlines' aircraft have also left the EU.
Canada has also banned Russian airlines from its airspace, but one AN-124 appears to be in Toronto.
The US is considering a ban on Russian airlines but has not yet implemented it.
Meanwhile, Finnair Cargo has cut all its operations to East Asia, with the company not operating in Osaka, Tokyo, Seoul, Shanghai or Guangzhou.
'The potential Russian airspace closure would notably impact air traffic between Europe and Asia, which plays an important role in Finnair's network. The negative financial impacts on Finnair will be significant, especially if the situation prolongs,' said the airline.
Said Finnair Cargo CEO Topi Manner: 'The crisis in Ukraine touches all Europeans and we understand the EU's decision to close its airspace. We are implementing our contingency plan as the situation has a considerable impact on Finnair. Bypassing Russian airspace lengthens flight times to Asia considerably and, thus, the operation of most our passenger and cargo flights to Asia are not economically sustainable or competitive.'
SeaNews Turkey
The EU and UK ban on Russian aircraft saw Volga-Dnepr Group's AirBridgeCargo (ABC) remove all its aircraft from Europe.
ABC has fifteen 747Fs, and one 777F in its fleet.
The aircraft are either in Russia or operating to destinations in Asia, primarily China.
However, Asia-Europe is its key operating region. Volga-Dnepr Airlines' aircraft have also left the EU.
Canada has also banned Russian airlines from its airspace, but one AN-124 appears to be in Toronto.
The US is considering a ban on Russian airlines but has not yet implemented it.
Meanwhile, Finnair Cargo has cut all its operations to East Asia, with the company not operating in Osaka, Tokyo, Seoul, Shanghai or Guangzhou.
'The potential Russian airspace closure would notably impact air traffic between Europe and Asia, which plays an important role in Finnair's network. The negative financial impacts on Finnair will be significant, especially if the situation prolongs,' said the airline.
Said Finnair Cargo CEO Topi Manner: 'The crisis in Ukraine touches all Europeans and we understand the EU's decision to close its airspace. We are implementing our contingency plan as the situation has a considerable impact on Finnair. Bypassing Russian airspace lengthens flight times to Asia considerably and, thus, the operation of most our passenger and cargo flights to Asia are not economically sustainable or competitive.'
SeaNews Turkey
