January 6, 2009

The International Air Transport Association (IATA) reported that airlines experienced a 13.5 percent drop in international cargo volumes during November, reflecting the global decline in business activity and consumer demand for goods during the current economic crisis.

It is the largest fall in cargo business since 2001 in the aftermath of the terrorist attacks on the U.S.

Carriers based in the Asia-Pacific region saw freight traffic fall by 16.9 percent, more than in any other region. At the same time, double-digit freight declines were also experienced by Latin American carriers (-15.7 percent), North American carriers (-14.4 percent), and European carriers (-11 percent).