More companies exporting goods from Asia to Europe are sending them by air rather than ships amid the series of Houthi attacks on ships in the Red Sea. Normally, producers strongly prefer shipping their goods because it is much cheaper but right now the price difference has shrunk as container ship operators reroute their vessels from the Red Sea to the Cape of Good Hope. As a result, demand for air transport on Asia-Europe routes has increased and so have airfares: Reuters reported today that the rate for transporting something from China to Europe…
