FEW AIRLINE EXECUTIVES WILL disagree that the outlook for air cargo is grim. Following eight consecutive months of contraction in international scheduled RTKs, including a 22.6% drop in December and a 23.2% year-on-year collapse in January, IATA DG and CEO Giovanni Bisignani in February warned that "alarm bells" were ringing everywhere. Yet Volga-Dnepr Group refrains from such dramatic declarations, preferring to take a more positive outlook. "We recognize the downturn and we have prepared ...

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