Transatlantic air freight rates are expected to soar, possibly overnight, following the US travel ban on mainland Europe, excluding – for now – the UK and Ireland.
Up to 80% of air freight capacity on the transatlantic could be cut as airlines ground passenger flights, with bellies normally taking the lion’s share of the capacity on the route.
“IAG, Air Canada, Virgin and Aer Lingus are all going to be very busy,” said one senior air freight analyst.
“There is a tremendous amount …
