Russia’s aviation authority has closed its airspace to airlines from 36 countries. The disruption impacts airlines that are responsible for carrying up to 22% of the world’s air cargo.
The skies have turned unfriendly amid the Ukraine-Russia conflict — and the situation could affect the prices Americans pay for everything from electronics to pharmaceuticals to imported food.
“The disruption to global airspace impacts airlines that are responsible for carrying up to 22% of the world’s air cargo.” Air cargo is transported by a range of airlines, including carriers that also serve passengers and ones that specialize in shipping. The airspace closures present a range of complications for both sets of airlines. All told, the disruption to global airspace impacts airlines that are responsible for carrying 20% to 22% of the world’s air cargo, said Guillermo Ochovo, a consulting analyst with Cargo Facts Consulting.
Another issue is flight cancellations. For instance, Finnair FIA1S, -6.37% canceled flights to South Korea and China after it was blocked from operating in Russian airspace. The low passenger demand to and from these locations is a silver lining for airlines, Unnikrishnan said, as they won’t lose much in the way of passenger business from making such decisions. But it reduces the capacity for cargo shipping even further.
Manufacturers could opt in some cases to transport items by sea instead, though that takes longer and delays at major ports could become a factor. For products like perishable food or fresh-cut flowers, there isn’t an alternative available.
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