Asian carriers continue to be hit hard by the cargo market slump brought on by a global economic slowdown and weak consumer confidence in Europe and the US, the head of the Assn. of Asia Pacific Airlines (AAPA) said Thursday. Speaking in Kuala Lumpur ahead of AAPA’s annual assembly of presidents, DG Andrew Herdman said Asian carriers account for approximately 40% of global air cargo traffic. They have been particularly hard hit by the reduced demand for airfreight and the current ...

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