‘Air freight rates from India to Europe & Asia will hike by 10 to 20%

Gautham Raju, Senior Manager – Global Air Freight and Head of Air Freight at WIZ said, “Due to the war between Iran and Israel, several countries in the general region, including Jordan, Iraq, Lebanon and Israel, have temporarily closed their airspaces. If the war prolongs further, we could definitely expect an increase in oil and gas prices, which could also indirectly impact the rise of Jet fuel prices, which could directly result in an increase in freight charges. We foresee that air freight rates from India to Europe and Western Asia are going to be increased between 10 to 20 % due to potential re-routes that are longer than normal, which require excess fuel carriage and lesser payloads for cargo. The ongoing war is significantly impacting perishable and low-value cargo.”