Air Freight Charter Rates Hit All-Time High

As Black Friday and Christmas approach, desperate shippers have been paying up to $2 million for a trans-Pacific chartered flight. In pre-pandemic 2019 peak season, it would cost between $400,000 to $700,000.

With retail inventory in North America at an all-time low and ships waiting 25 days off California, the only way for shippers to be able to get products in time for Black Friday and Cyber Monday is by air. While forwarders are still able to find space, shippers have to consider if the current prices and timelines are viable.

(Source: Tandem Canada dba Canaan Newsletter, wk 42)