A Boeing 747 cargo freighter belonging to the Atlas Air flies into the clouds after lifting off from Hong Kong International Airport, on 23 October 2017, in Hong Kong, Hong Kong.
S3studio | Getty Images
Not all airlines are reeling from the coronavirus pandemic. Cargo carriers are cashing in on the rush for medical supplies and other goods, marking a reversal of fortunes for the sector on the heels of its worst year in a decade.
As passenger demand plunged while Covid-19 spread around the globe, airlines have stored about two-thirds of the world’s fleet of about 26,000 planes through mid-April, according to U.K.-based aviation consulting firm Ascend by Cirium.
That meant a crunch for space because passenger planes routinely carry everything from mail to fresh food to pharmaceuticals in aircraft bellies.
Air freight volumes worldwide dropped by more than 15% in March from a year earlier, but capacity dropped 23%, the International Air Transport Association said.
Some cargo carriers are…