GERMAN supply chain giant DB Schenker sees a fall in air freight demand, on account of inflation in western markets, reports Chennai's Hindu Daily
"Last year was a very busy year. We were very successful. Our volumes went up in the market and yield was pretty high.
"As we started this year, we continue to see that momentum coming in to this year as well. So our volume and yields are holding," said DB Schenker vice president and air freight chief, Asok Kumar.
"But now we are moving into a very different situation. More capacity is coming to the market and consumer demand has dropped due to the high inflation," Mr Kumar said.
"We have started to see a situation where the capacity demand imbalance has started to correct. We need to closely look into the market and adopt accordingly."
Mr Kumar said the company would continue to deploy air freight charters across the globe including India to airlift cargo despite more capacity in passenger aircraft returning to the market following restoration of air connectivity post Covid.
The company was once operating 58 flights a week around the world and now this number has reduced to 48. Earlier, it used to operate two flights a week to India and now flies once a week.