Friday, May 29, 2009

Air freight 'bottoms out'

Air cargo tumbled 21.7% in April, but are we at the end of the decline?
Shipping News Feature

WORLDWIDE - Air cargo tumbled 21.7% in April, the fifth straight month where the drop has exceeded over 20%, but according to the Air Transport Association (IATA), there are signs that a recovery may be looming closer.

IATA Director General and Chief Executive Giovanni Bisignani: "Freight remains at shockingly low levels. The worst may be over. However, we have not yet seen any signs that recovery is imminent."

Bisignani continued to say that it the industry would have to study what happens over the next quarter to fully appreciate any signs of a recovery.

IATA, which represents 230 airlines including British Airways, Cathay Pacific and United Airlines, and Emirates, said international air passenger numbers fell 3.1% year-on-year in April.