Intruder, you are totally correct and same goes for any ACMI carrier, the freight they carry is their customer's freight. In the same way if any ACMI carrier goes on strike, their customer gives it to someone else. Or again with a pax carrier, if that carrier goes on strike the passengers just buy a ticket on another carrier. So much for leverage........
An easy example that happened a few years ago to a friend in MIA. His company imports clothes from Europe. His French wholesaler uses Air France. When the latter went on strike (pretty common thing over there hehehe) he rebooked on Fedex, lost a few days yes, but still made it on time for his customers. That was not Air France freight but HIS freight........ such is life, but some have a hard time understanding it.