IATA : “significant drop in cargo growth” for the month of May

While April was a lackluster month in terms of Air Cargo growth, May was an even worse 1.3%:

At 1.3 per cent, cargo demand is considerably down from the 4.3 per cent recorded for the full year 2007. For the first five months of 2008, airfreight volumes were up 2.8 per cent. The biggest cause of the slow growth came from a 0.5 per cent contraction in Asian carrier traffic. This resulted from the impact of the earthquake in China and weakness in the Japanese economy. Asian carriers also saw weakness in transpacific markets with increased competition from US carriers taking advantage of the weak US dollar.

On a positive note, passenger demand was stronger than expected.

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