Ocean freighters have been adding air cargo to their businesses, as the unpredictable nature of supply and demand has created a need for goods to be flown. Being able to both ship and fly products helps cargo shipping companies create a “one-stop-shop.”
According to Michael Field, a senior equity analyst at Morningstar, “A lot of ocean freight companies are awash with cash at the moment, having had a bumper couple of years, and they’re looking for ways to spend it — and buying up air capacity is definitely one of those ways.”
In April of this year, Maersk, the world’s largest container shipping firm, launched an air cargo division, which now has a fleet of 15 aircrafts. And, in 2021, CMA CGM, the world’s third-largest ocean shipper, started an air division that is expected to have 12 airplanes in operation by 2026.
Michel Pozas Lucic, Maersk’s global head of air freight, said, “Supply chain disruptions created a need for goods to be flown.”