newstodate.aero
Sep 30, 2008 (newstodate): The latest cargo statistics from IATA prove a sustained decline in the past three months.
International freight traffic saw its third consecutive month of contraction with a 2.7 percent decline following drops of 1.9 percent in July and 0.8 percent in June, 2008.
The 6.8 percent decline in international freight shipped by carriers in the Asia Pacific region had the greatest impact as they comprise 45 percent of the global air cargo markets.
The other big market players also showed weakness. European carriers experienced a 0.9 percent decline, while US carriers reported weak growth of 0.8 percent.
Sharp declines in freight traffic in Latin America, down 13.2 percent, reflect restructuring in Brazil with cuts in capacity.
-Airlines carry 35 percent by value of the goods traded internationally. The three-month decline, led by weakness in Asia-Pacific markets, is a clear indication that global trade is slowing down. This shows that the impact of the financial crisis is broad geographically and will worsen before it gets better, says Giovanni Bisignani, IATA Director General and CEO.
International freight traffic saw its third consecutive month of contraction with a 2.7 percent decline following drops of 1.9 percent in July and 0.8 percent in June, 2008.
The 6.8 percent decline in international freight shipped by carriers in the Asia Pacific region had the greatest impact as they comprise 45 percent of the global air cargo markets.
The other big market players also showed weakness. European carriers experienced a 0.9 percent decline, while US carriers reported weak growth of 0.8 percent.
Sharp declines in freight traffic in Latin America, down 13.2 percent, reflect restructuring in Brazil with cuts in capacity.
-Airlines carry 35 percent by value of the goods traded internationally. The three-month decline, led by weakness in Asia-Pacific markets, is a clear indication that global trade is slowing down. This shows that the impact of the financial crisis is broad geographically and will worsen before it gets better, says Giovanni Bisignani, IATA Director General and CEO.