Cargo airline sends new Boeing 767 freighters directly to storage

News Snapshot:

The company behind Northern Air Cargo has taken delivery of two widebody freighter aircraft this year and immediately placed them in storage because there isn’t enough business to operate them profitably despite the improved outlook for the global airfreight market, FreightWaves has learned. The decision represents the latest case of an all-cargo airline throttling back on fleet expansion plans made during the COVID crisis when a shortfall in shipping capacity sent rates through the roof and made freighters valuable assets. Northern Air Cargo, which serves communities in Alaska from its base in Anchorage, lost $12 million in the 12 months...