Emirates SkyCargo sees recovery in air freight dependent on automotive industry
Emirates SkyCargo Senior Vice President, Ram C Menen, stated the air freight industry is very dependent on the automotive industry, with a recovery in airfreight volumes unlikely to commence until the automotive industry starts to recover (Emirates Business 24/7, 09-Sep-09). Mr Menen estimated its is the fourth largest international cargo carrier in the world in terms of pure volume.
Emirates SkyCargo: “This crisis is a blip in the growth trend of air cargo. Actually, we have lost three years in actual growth terms. We rely a lot on the automotive industry. Unfortunately, it is taking a hit, which has also affected our traffic levels – they use a lot of semi-conductors, and components traffic is huge. There is also a huge debate going on between the forces of globalisation and localisation. Hopefully the globalisation process, which started a few decades back, would be strong enough to continue. And the current crisis will not have much of an impact on the globalisation of the manufacturing process.” Ram C Menen, Senior Vice President of Cargo. Source: Emirates Business 24/7, 09-Sep-09.