He also pointed to potential macro effects, such as additional inflation in Europe, denting consumer demand. But he also speculated as to how ABC could try to operate. Supply chains are so intertwined, there any many possible side effects.” Highlighting the substantial impact on the market, one industry executive said: “If this continues, the implications for the supply chain will be difficult to overestimate. While SAS continued to operate routes to Tokyo and China, it said that it is “closely monitoring the situation”. The carrier, which said it was withdrawing its earnings guidance as a result, added that it was “considering different solutions in case the situation prolongs”. Bypassing Russian airspace lengthens flight times to Asia considerably and, thus, the operation of most our passenger and cargo flights to Asia is not economically sustainable or competitive.” The negative financial impacts on Finnair will be significant, especially if the situation prolongs.”ĬEO Topi Manner, added: “The crisis in Ukraine touches all Europeans and we understand the EU’s decision to close its airspace. We are implementing our contingency plan as the situation has a considerable impact on Finnair. The airline said: “The potential Russian airspace closure would notably impact air traffic between Europe and Asia, which plays an important role in Finnair’s network. The airline will not operate to Osaka, Tokyo, Seoul, Shanghai or Guangzhou, with a review of the situation to take place on 6 March. Finnair Cargo has also cut all its operations to east Asia, reducing capacity again. The impact is not only being felt by the Russian airlines. ABC had two aircraft in the US which departed over the weekend.ĮU airlines associated with Volga-Dnepr – Cargologicair in the UK and Cargologic Germany – continue to operate normally, and all aircraft are currently in the EU or UK. Canada has also banned Russian airlines from its airspace, but one AN-124 appears to be in Toronto, and it is unclear whether it will be able to leave.Įven the US is considering a ban on Russian airlines but has not yet implemented it.
Volga-Dnepr Airlines’ aircraft have also left the EU, with one AN-124 destined to arrive in Marseille yesterday, diverted to Tunis. It remains to be seen what volumes it can carry in its new restricted world. With Asia-Europe its key operating region, the aircraft are currently either in Russia or operating to destinations in Asia. ABC in the current marketplace has a large capacity with its fleet containing 15 747Fs, and one 777F. With the ban in place, at least four aircrafts have departed the EU yesterday, according to FlightRadar24. The EU and UK ban on Russian aircraft in their airspace, in the past three days has forced Volga-Dnepr Group’s AirBridgeCargo (ABC) remove all its aircraft from Europe.
Air cargo shippers on Asia to Europe lanes should expect a spike in prices as a substantial amount of capacity has come out of the market.
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