US air cargo traffic posts sharpest decline in seven years
14 Oct 2008
Cargo traffic for US airlines posted its sharpest decline in nearly seven years in August, impacted by an even sharper11.8-per cent drop in the domestic shipping business.
According to the Air Transport Association overall traffic fell 6.6 per cent in August compared to the same month a year ago. The drop among US carriers comes even as reports from around the world show a sharp downturn in expedited shipping across the globe.
The International Air Transportation said freight traffic declined 2.7 per cent in August and the Association of Asia Pacific Airlines reported a 6-per cent decline in August along with a 7.1-per cent drop in capacity.
The 11.8-per cent drop in domestic business for American carriers marked the fourth straight monthly decline and leaves the business down 2.4 per cent in the first eight months of 2008 compared to the previous-year period.
It is the steepest decline in domestic air-cargo traffic since December 2001.