Bruce Barnard, Special Correspondent | Oct 31, 2011 12:06PM EDT
The contraction in the global air cargo market continued for a fifth consecutive month in September, with traffic falling a further 2.7 percent from a year earlier on sharply lower Asian shipments, the International Air Transport Association said.
The latest decline, following 3.6 percent shrinkage in August, leaves total volume in September down 5 percent from the end of the first quarter, according to IATA.
Asia/Pacific airlines, which account for 45 percent of the air cargo market, were hardest with traffic declining 6.3 percent from September 2010, despite robust economic growth in many countries in the region. The Japanese tsunami and earthquake in March continues to dampen air freight in the region, IATA said.
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By the Numbers: Asia-Pacific Airlines' Freight Traffic
European carriers’ freight traffic was down 2.4 percent from a year earlier, while North American carriers reported flat volume.
-- Contact Bruce Barnard at brucebarnard47@hotmail.com.
