As anticipated, ecommerce platforms have begun cancelling flights and cutting back on capacity, while Chinese shippers with contracts are asking to switch to spot as airfreight rates fall.
Despite the ending of the lunar new year holiday that normally triggers a rate rise, Chinese forwarders are reporting rates are remaining low.
“The market’s a mess right now,” said one Chinese forwarder.
“While some airlines are increasing rates, such as Air China, others have …
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