newstodate.aero
Oct 14, 2008 (newstodate): Amidst the current disastrous financial down-turn in the Icelandic economy, Icelandair Cargo sees opportunities as well.
-Most of our revenue is earned in US dollars or euros, while most of the costs are in highly deflated Icelandic currency, which leaves at least a positive margin, says a company executive.
-We are of course seeing our air cargo imports declining these weeks, and probably will over the coming weeks as well. But it will turn again, and air cargo will probably gain in importance for Icelandic importers as their orders will come in smaller quantities, compared to only a short time ago when import shipments arrived by sea containers. Nobody will be storing commodities, but prefer order-driven imports.
-The deflated Icelandic currency will also strenghten the competitive selling power of our dominating export commodity which is fish. And all Icelandic exports of fresh fish are taken by air to the UK and other European markets, creating prospects for an increase in air cargo export volumes from Iceland.
-Times are extremely difficult, and any business now requires much effort and diligence. But a critical situation also embodies new opportunities, and we are keen to seize any fresh opening, he says.
-Most of our revenue is earned in US dollars or euros, while most of the costs are in highly deflated Icelandic currency, which leaves at least a positive margin, says a company executive.
-We are of course seeing our air cargo imports declining these weeks, and probably will over the coming weeks as well. But it will turn again, and air cargo will probably gain in importance for Icelandic importers as their orders will come in smaller quantities, compared to only a short time ago when import shipments arrived by sea containers. Nobody will be storing commodities, but prefer order-driven imports.
-The deflated Icelandic currency will also strenghten the competitive selling power of our dominating export commodity which is fish. And all Icelandic exports of fresh fish are taken by air to the UK and other European markets, creating prospects for an increase in air cargo export volumes from Iceland.
-Times are extremely difficult, and any business now requires much effort and diligence. But a critical situation also embodies new opportunities, and we are keen to seize any fresh opening, he says.