Unable to fill planes with passengers as the coronavirus destroys travel demand, airlines are instead using their fleets to transport more cargo, including medicines, smartphones and Korean strawberries.
The likes of Cathay Pacific Airways Ltd., Korean Air Lines Co. and American Airlines Group Inc. are hauling a greater amount of goods in the belly of their passenger planes to keep up with demand. Cargo rates have risen over 10% in recent weeks as some companies are prepared to pay more to ship goods after drastic cuts in passenger flights left airlines with less capacity for cargo.
