John Whelan: Plummeting air- freight costs deliver opportunity for Irish firms

Fall in air-cargo costs will encourage many Irish exporters to reconsider selling into  distant markets

Night-time flying is an integral part of the  mission-critical export service. Picture: PA

Demand and the costs of global air cargo shot-up dramatically during the pandemic and the closure of Russian airspace. Prices have now plummeted to offer respite and opportunities to Irish exporters.

The International Air Transport Association, the industry group for big airlines, has said global air cargo yields have fallen by over a third this year, and figures from Xeneta Air, the global data consultancy, have shown a 41% fall in air freight rates this summer from last year.