|
|
Article: IATA data shows biggest air freight declines in seven years.(International Air Transport Association)(Brief article)
- Article from:
- Purchasing
- Article date:
- February 12, 2009
- Author:
CopyrightCOPYRIGHT 2009 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
By David Hannon
The latest statistics from the International Air Transport Association show that international air cargo volumes crashed 13.5% in November, while capacity declined only 1%. The decline in air freight volume is the biggest since post-9/11.
The biggest declines came in the Asian markets where air cargo traffic fell by 16.9% in November. In North American, volume declined by 14.4%
In a statement, Giovanni Bisignani, IATA's Director General and CEO, called the 13.5% drop "shocking" and added that it "clearly shows the rapid fall in global trade and the broadening impact of the economic slowdown."