IATA: Possible Gap In The Cargo Gloom?


All the responsibility none of the authority
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[FONT=Arial, Helvetica, sans-serif]IATA: Possible Gap In The Cargo Gloom? [/FONT]
IATA reports a 22.1 percent drop in cargo volumes in February 2009 compared to the same month last year.
Director General and CEO Giovanni Bisignani commented, “Freight traffic, which began its decline in June 2008 before passenger markets were hit, has now had three consecutive months in the -22 percent to -23 percent range. We may have found a bottom to the freight decline, but the magnitude of the drop means that it will take time to recover.”
Bisignani noted the level of air cargo “appears to have found a floor over the past three months. The recently released Eurozone Purchase Managers Indices, being useful forward looking indicators for cargo traffic, showed a slight and unexpected improvement in March - although it remained in negative territory.”
IATA reports Middle Eastern carriers experienced the smallest fall in demand (-4.8 percent) and was the only region to increase capacity (+5.4 percent).

African carriers had the worst performance in February with a 30.7 percent drop in international freight traffic due to a loss of market share on long-haul routes combined with the impact of the economic downturn.
Asian carriers saw IATA traffic fall by 24.7 percent. Japanese exports have almost halved from February 2008 levels.
Traffic for European and North American carriers declined 23.1 percent and 21.8 percent respectively. In Latin America, carriers saw a drop of 22.8 percent as demand weakened for the region’s commodities.
In a new forecast IATA said the world’s airlines could lose $4.7 billion in 2009, up from the $2.5 billion figure it predicted in December.
“There is little to indicate an early end to the downturn, “ said Bisignani. It will be a grim 2009. And while prospects may improve towards the end of the year, expecting a significant recovery in 2010 would require more optimism than realism.”
Bisignani called on governments to repeal the $6.9 billion in new taxes put on the industry in 2009 “to help pay for banking bailouts - despite being branded as environmental measures.
“More broadly governments must replace the mindset of taxing aviation as a luxury or a sin with a strategic approach that recognizes and fosters the industry’s critical economic role in connecting people to business and products to markets.
“This is not just an airline crisis. Efficiency must be a priority for the entire value chain. A 25 percent reduction in landing charges at Singapore Changi airport and a 50 percent reduction at Malaysian airports are major steps in the right direction. These are model programs for others to follow,” he noted.
I would just like to point out despite some of the gloom and the circumspection of the article, Polar's company's stock is doing better lately and I for one am happy about that.
I'm happy they might have found the floor. If we have no more cutbacks, I'll be happy.

I'm glad the stock is doing well too. Let's see if they can place the -8s without parking -400s :panic:
I'm happy they might have found the floor. If we have no more cutbacks, I'll be happy.

I'm glad the stock is doing well too. Let's see if they can place the -8s without parking -400s :panic:

Hey Polar - stupid question. How fast can a -400 go? How about a -200? Talking mach here - I thought I read were a whale is pretty fast - like high .8's or maybe .9?
So you'll be hiring by, say, I dunno, 2020. I look forward to being your first arthritic F/O. If you bring the booze, I'll bring the cigarettes and geritol.