February 12, 2020 / 2:55 AM / 9 days ago

Boeing exec says tough to see air cargo growth this year due to virus

SINGAPORE, Feb 12 (Reuters) - The air cargo market is unlikely to grow this year because of the challenges posed in the China market due to the coronavirus, a senior executive at Boeing Co said on Wednesday.

The world’s biggest manufacturer of freighter aircraft had previously forecast air freight would grow by 1% to 2% this year due in part to the United States and China reaching a phase 1 trade deal, said Randy Tinseth, vice-president of marketing at Boeing Commercial Airplanes, the commercial division of Boeing.

“That is going to see pressure as well,” he told reporters of the U.S.-China deal at the Singapore Airshow.

“If we are not seeing goods travel and airplanes fly that is under pressure. I think it is going to be really tough to see the cargo market grow this year.”

The coronavirus crisis has dimmed hopes of a rebound for air cargo after its worst year in the decade since the financial crisis, the International Air Transport Association, a group of 280 global airlines, said last week. (Reporting by Jamie Freed and Tim Hepher; Editing by Tom Hogue)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below