John Whelan: Invasion of Ukraine piles pressure on Irish exporters

Together with rampant fuel prices, flight restrictions are expected to create significant increases in air freight rates

Russian airlines have been banned from EU, UK and US airspace - including Aeroflot and Air Bridge Cargo. Photo: Andrey Rudakov/Bloomberg

The tragedy unfolding in Ukraine has created one of the most challenging periods for the aviation sector, adding to the damage to the industry over the past two years by Covid-19. 

Sitting on top of boardroom agendas, next to the leasing sector with its embargoed aircraft grounded at Moscow’s Sheremetyevo International Airport, is the hit to the air cargo sector. Knock-on damage to the supply chains for the key high-value exporters of medical devices and pharmaceuticals in Ireland can be expected, who almost exclusively use this mode of transport to get goods to international markets.