Air cargo plummets

The 22.6% free fall in global air cargo is unprecedented and shocking. There is no clearer description of the slowdown in world trade. Even in September 2001, when much of the global fleet was grounded, the decline was only 13.9%, said Giovanni Bisignani, IATA’s Director General and CEO. Air cargo carries 35% of the value of goods traded internationally.
In this economic downturn IATA is calling for major structural changes to the industry. There is a need to change the ownership rules. Almost every other business has the freedom to access to global capital and the ability to merge across borders where it makes sense. To manage in this crisis, airlines need the same management tools.