DHL reports falling air cargo revenue and volume

DHL reported a 18.7% year-on-year fall in air freight volume in the first quarter of 2023 (Q1 2023). Airfreight revenues decreased by 39.6% year on year to €1.7bn with profit was down 29.9% to €342m. Overall revenue was down to €20.9bn from €22.6bn in Q1 2022. The German company said a “normalisation of market conditions” for air cargo could be seen, as the sector returned to trends seen before the Covid pandemic and related market disruptions resulted in a temporary surge in cargo being transported by air. DHL reported the reversal to be most apparent on routes between Asia and