The American company Boeing and the European company Airbus are delaying deliveries of new aircraft for cargo carriers, which is why airlines are forced to continue using old planes, the Financial Times reported.
„The imbalance between demand and supply in the market for wide-body cargo planes will worsen in the next few years“, Michael Stein, CEO of the American cargo airline Atlas Air, told the newspaper.
He added that „the upcoming wave of aircraft aging, combined with limited aircraft supplies“, will complicate the situation in the air cargo industry. Of the approximately 630 wide-body cargo planes currently in service worldwide, up to 150 have reached their 25-year service life.
Boeing is delaying deliveries of 63 wide-body planes, while Airbus has delayed the entry into service of its A350 freighters until the second half of 2027.
The chief executive of Saudia Cargo, a Saudi cargo airline, told the newspaper that amid difficulties with aircraft deliveries, many carriers are working on ways to “extend the life“ of planes that are 30 years old or older. He noted that operating older planes is “technically safe but financially difficult“ due to the high cost of maintenance and fuel. Supply problem could lead to higher air freight prices.
According to the International Air Transport Association, airplanes account for a third of all cargo traffic in the world, worth about 8.3 trillion USD annually. The rapid growth in the flow of goods from Asian countries to Western countries has become a major reason for the growth in demand for air freight in recent years.