India’s cargo charter demand surges for ACS
15 / 08 / 2024
Ashish Wastrad. Source: ACS
Charter broker Air Charter Service (ACS) has seen cargo demand out of India surge this year helping to push up revenues.
The UK-headquartered firm said its Indian offices have seen income increase by 42% year on year driven by both cargo and passenger.
On cargo, the firm said that the Red Sea crisis in ocean shipping had seen a rise in the number of charter flights out of India as companies look to avoid lengthened lead times.
ACS India chief executive Ashish Wastrad said: “We have also seen incredible growth in our cargo division, driven by pro-industry government initiatives, e-commerce and maritime trade uncertainties.
“Due to the exceptional numbers so far this year, we have had to expand our teams, both here in Mumbai and also in our New Delhi office, in order to cope with the demand. We are looking to expand the teams further and continue the growth in the second half of the year.”
The Red Sea shipping crisis has added weeks onto the sailing time to Europe as vessels are taking the longer route around the coast of Africa rather than using the Suez Canal as they look to avoid attacks in the Red Sea.
