Excerpt from: North America Supply Chain and Logistics Strategy
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| December 07, 2007 | | Air Cargo is currently not growing at the expected rate due to the US economy. | With fuel prices increasing and the US economy in flux, air cargo demand, especially in the US, is not meeting the expected growth. The International Air Transport Association (IATA) is concerned about the growth of international freight. In September demand for international freight was up 5 percent form last year and in October it was only up 3.6 percent. The chief executive of Logistics at FedEx, Fred Smith, stated that the US slowdown has a large impact on the global growth. The freight in the US is below growth expectations and fuel is more costly. Air cargo has been growing in Asia but not at the same pace. In September the air cargo growth in Asia Pacific was 7 percent and in October it was only 5.8 percent. Passenger traffic is continuing to grow worldwide, especially in the Middle East which has 20.9 percent growth rate since last year. | | |
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