IATA: Cargo sector has to adjust to a new normal of growth in line with economic expansion

IATA DG and CEO Tony Tyler reported (03-Feb-2016) 2015 was "another very difficult year for air cargo" with growth slowing and revenue declining. The association is not expecting global air cargo revenue above USD51 billion for 2016, well below the 2011 peak of USD67 billion. According to Mr Tyler:

• Efficiency gains are "critical" as the air cargo sector "adjusts to shortening global supply chains and evermore competitive market conditions";
• Airlines have to adjust to the 'new normal' of cargo growing in line with general rates of economic expansion;
• Air cargo industry is moving forward with an e-freight transformation that will "modernise processes and improve the value proposition", and the "faster the industry can make that happen, the better". [more - original PR]