Air Cargo Continues Decline

I just read the most recent press release from IATA regarding cargo traffic for the month of August and freight volumes continued on a downward trend. Freight volumes for August were down for the third consecutive month in a row posting a 2.7% drop in global freight traffic. The alarming trend to me is that the 2.7% drop was larger than July’s 1.9% and June’s 0.8% decline. With the state of the U.S. and global economies, I would not be surprised to see this negative trend continue.

Via IATA’s press release:

“The industry crisis is deepening and no region is immune. Urgent measures are needed. From taxation to charges and operational efficiencies, all areas impacting the business must be examined for ways to reduce costs and drive efficiencies. It’s a matter of survival,” said Bisignani.

Asia Pacific carriers led the way with a 6.8% decline in August