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IATA: Air cargo shrinking as a proportion of airline revenue

18-Oct-2013 10:10 AM

IATA director general and CEO Tony Tyler addressed (17-Oct-2013) the FIATA World Congress in Singapore on the subject of the global air freight industry. Mr Tyler acknowledged the importance of air cargo to the airline business and as an essential driver of the global economy. He noted that when measured by value, a third of goods traded internationally are transported by air, accounting for USD6.4 trillion worth of business and 57 million jobs. Mr Tyler outlined how air cargo has stagnated since 2010, with the market share for air cargo decreasing and revenues shrinking. In 2010, air cargo attributed for 11.4% of airline revenues. The forecast for 2013 is that it will be 8.3%. In tandem with these factors, patterns of development, innovation and business intelligence have eroded much of the value that shippers see in speed. [more - original PR]