International air cargo traffic falls 22pc
Geneva, March 26, 2009
International air cargo traffic fell 22.1 percent in February compared to the same month a year ago, but the freight decline may have now found its floor, the airline industry body Iata said on Thursday.
The number of passengers taking cross-border flights also fell 10.1 percent year-on-year in February, the International Air Transport Association said.
'We may have found a bottom to the freight decline, but the magnitude of the drop means that it will take time to recover,' Iata said in a statement. Air cargo traffic is considered a key barometer for the health of global trade.
Iata, which represents 230 airlines including British Airways, Cathay Pacific and United Airlines, and Emirates, said earlier this week that airlines would lose $4.7 billion this year as a result of the economic downturn that has kept people and cargo from flying. - Reuters