May 11, 2009

The director general of the International Air Transport Association (IATA), Giovanni Bisignani, said the global airfreight market appears to be stabilizing.

Cargo demand was fairly steady in March, "although at the shockingly low level of -21.4 percent," he said.
"Air cargo demand has moved sideways in the -21 percent to -24 percent range since its plunge from -7.9 percent to -23.2 percent between October last year and January 2009," according to a statement issued by IATA.

"It's not the end of the recession, but we may have found the floor," Bisignani noted.