Large Widebody Freighter ACMI Services
In spite of the global economic downturn, large widebody ACMI traffic volumes have remained steady after contracting about 10% in 2006.
Aircraft, crew, maintenance, and insurance (ACMI) providers, sometimes called "wet lease providers," offer cargo operators the flexibility to obtain lift on a trial basis, augment existing markets, and provide service in markets that are highly seasonal-all with no capital equipment investment required. Large freighters in long-haul markets account for the most significant segment of the air cargo ACMI business. The ACMI business is highly sensitive to changes in the air cargo business, but it has become an established industry subsector since the early 1990s. Several providers, representing about 14% of the large freighter ACMI traffic in 2007, exited the business in the 2007-2008 timeframe.
Annual growth for ACMI large freighter traffic has averaged 12.2% since 1992, although growth is uneven from year to year. After a strong recovery between 2003 and 2005, ACMI traffic contracted about 9.6% in 2006. The industry, however, remained fairly steady in terms of traffic volumes from 2007 through 2009, as some wet lease providers managed to expand their ACMI client bases during this time. As demand for dedicated freighter airplane capacity rebounded in late 2009 and 2010, this segment benefited greatly from the limited availability of long-haul freighters in operator fleets.