The air freight market benefited from massive modal-shift volumes over the last two years, as ocean carriers struggled to maintain schedule integrity in the face of endemic disruption, but those shippers are moving back to ocean as congestion eases and reliability improves. With two good quarters (and not a bad third, due to long-term contracts) the ocean carriers are still highly profitable, but earnings are now dropping from the third quarter and rates are volatile across the board. Get our latest reports,