Problems for Exporter due to freight rates hike after Jet Airways suspension.
Grounding of Jet Airways on 18th April 2019 raised many problems in the aviation sector. It completely hit the air cargo market. All of top logistics companies worried as there is a delay in delivery and a hike in freight price. Jet had service to 37 destinations across India and 19 global destinations.
Jet Airways had decided to stop its all the operations due to it was unable to get the required amount of money. Lenders who owed over USD 1.15 billion and refused to give an immediate lifeline to the Jet.
Jet Airways used to handle 10-15 per cent of total air cargo to London, Amsterdam, Paris and Singapore. It was a high amount of full load from India. After the incident, other top cargo services may hike the price and exporters are paying more.
Exporters were exporting most of fresh veggies and fruits to Europe with Jet Airways. Jet was operating three flight daily to London loading 50 tonnes of produce. Other air cargo service provider has raised their prices by 25-30% which had to increase 5% every year.