Africa’s air cargo market is setting its sights on long-term growth, but for now, the continent continues to suffer from the strength of the US dollar and the impact of inflation on export markets.
According to Director Dick Murianki from Kenya Airways, there was a big demand for air cargo in Africa during the pandemic. The upswing in demand - combined with the loss of passenger operations - put freighters in high demand. But the extreme demand that could not be met at the height of the pandemic has now subsided. Also, global economic conditions are taking their toll on demand.
He says that Kenyan customers, which mainly export perishable products, are affected by the strength of the US dollar. Inflation and higher fuel prices have also dampened demand for Kenyan exports in Europe.
“People are concerned about the economy,” Murianki says. “One of the things we keep hearing is that power bills have gone up, and so has the cost of living, so things like flowers and vegetables that they would ordinarily have been buying, they are cutting down on.”
Source: aircargonews.net