Shipments ranging from fresh produce to airplane parts are in limbo as an escalating Middle East conflict reduces the world¡¯s air cargo capacity by more than one-fifth and pushes up freight rates, with executives bracing for backlogs of goods.
The U.S. and Israeli air war against Iran has grounded passenger and freighter flights across the region, including in key global air cargo hubs Doha and Dubai.
That has led to a 22% reduction in global air cargo capacity between Feb. 28 and March 3 compared with a four-day period last month before the Chinese New Year holiday, according to data from aviation and logistics consulting firm Aevean.
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