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Air cargo forecast lowered


September 23, 2011

The International Air Transport Association cut its 2011 forecast for global air cargo revenue to $67 billion from a $72 billion estimate in June, due to stagnant volume and weakening freight rates.

Cargo volume will grow by just 1.4 percent in 2011, down from 5.5 percent predicted in June, the industry group said. The world’s airlines are expected to transport 46.4 million metric tons of freight this year, down from the previous forecast of 48.2 million tons.