Assn. of European Airlines said Friday that air cargo demand continues to decline at a "catastrophic" rate while passenger traffic registered its "worst result" of the economic downturn in May. AEA said that its member carriers "have seen their cargo volumes cut by one-third or more" and in May posted a year-over-year airfreight traffic decline of 19.8%. On the passenger side, traffic was down 8.3% year-over-year in May, the poorest monthly showing of the downturn "after making allowance for ...

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