Topic “air freight” — Exporter Magazine

The International Air Transport Association (IATA) has increased its global profit forecast for aviation for 2011 with much of the market share taken up by Asia-Pacific carriers while freight prospects appear uncertain this year and next, according to the Shipping Gazette. The air freight industry, with 216 orders for new widebody freighters at the end of April, will see the bulk of the new capacity coming on line in the next year or two, according to the Shipping Gazette, citing Flight International. The International Air Transport Association (IATA) has announced that global air cargo traffic rose by 14.8% in September, down from 19% growth the previous month, translating into a month-to-month decline of 2.1% when adjusted for seasonal factors, according to the Shipping Gazette. Six global freight forwarders have pleaded guilty and have accepted fines of USD$50.27 million (NZD$70.17 million) from the US Department of Justice (DOJ) for conspiring to fix air cargo fees between 2002 and 2007, according to the Shipping Gazette.