IATA DG and CEO Giovanni Bisignani yesterday warned that air cargo demand "has fallen off a cliff" and projected that revenue generated by airlines from cargo in 2009 is likely to drop 9% year-over-year to $54 billion. In remarks delivered by video to IATA's World Cargo Symposium in Bangkok, Bisignani said, "The continued decline in cargo markets is a clear sign that we have not yet seen the bottom of this economic crisis." He noted that air cargo, which represents about 10% of airline ...

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