Air Cargo Is Booming: Who Are The Biggest Winners?

Amid the depths of the COVID-19 pandemic, when passenger airlines were facing extreme financial difficulties amid extremely low levels of passenger demand, cargo airlines were booming. Cargo operations were more profitable than ever during the period between April 2020 and April 2022, during which cargo yields rose to over 200% of fuel costs, a common metric used to analyze the profitability of air freight operations.