18-Feb-2009 5:30 PM
Cargo rout to hit passenger markets next
Analysis
Asian exports are in free fall, cargo markets are in intensive care, and passenger markets will be next. Japan's GDP contracted a startling 3.3% in the fourth quarter of 2008, taking the annualised rate of decline to -12.7% - the most severe since the 1974 oil crisis - and worse is expected.
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