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MAY 30, 2005 (newstodate): The decisive reason for the stagnation in Icelandair Cargo's latest figures is a sustained decline in exports to the US market.
-The negative trend in exports started in November, 2004, when exports to the US declined by 49 percent, says Petur J Eiriksson, Icelandair Cargo managing director.
-The exports to the US have remained weak since, and the main and probably only reason is the weak dollar that makes exporters reluctant to sell there, he says.
-Other markets have not absorbed the fresh fish formerly destined to the US, so it has been used instead for other processing methods, and sent by ship, says Mr Eiriksson.
In April, Icelandair Cargo's export cargo dipped by 9.5 percent, while the over-all drop in exports at Keflavik Airport was 13.4 percent.
-Icelandair Cargo saw its import air cargo growing at 21.3 percent, while transit shipments declined by 2.5 percent in April, says Mr Eiriksson.
-The negative trend in exports started in November, 2004, when exports to the US declined by 49 percent, says Petur J Eiriksson, Icelandair Cargo managing director.
-The exports to the US have remained weak since, and the main and probably only reason is the weak dollar that makes exporters reluctant to sell there, he says.
-Other markets have not absorbed the fresh fish formerly destined to the US, so it has been used instead for other processing methods, and sent by ship, says Mr Eiriksson.
In April, Icelandair Cargo's export cargo dipped by 9.5 percent, while the over-all drop in exports at Keflavik Airport was 13.4 percent.
-Icelandair Cargo saw its import air cargo growing at 21.3 percent, while transit shipments declined by 2.5 percent in April, says Mr Eiriksson.