Latest Middle East conflict “reverses recovery” of air cargo

Recent escalation in the Middle East conflict has reversed the recovery of air cargo in the UAE after the 2 May reopening, leading to a global air cargo capacity shortfall of up to 16%. The 4 May missile and drone attacks have disrupted air operations, particularly in the Asia-Europe trade lane, causing increased freight rates and delays. The ongoing closure of the Strait of Hormuz further exacerbates the situation, impacting global supply chains.