Financial Daily from THE HINDU group of publications
Monday, May 27, 2002
Financial Daily from THE HINDU group of publications Monday, May 27, 2002 |
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Logistics
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Airlines Air freight to take off in 2003 Our Bureau
ACCORDING to a forecast report released by the International Air Transport Association, the air transport industry is set for a recovery in 2003. The report, covering 2003-2005, predicts that the freight volume worldwide is likely to rise more than five per cent. The volumes on both the East Asia/North America and East Asia/Europe lanes are set to increase sharply, the report indicates. With the freight volumes between East Asia and North America estimated to rise around seven per cent, this sector is likely to emerge as the fastest-growing air transport market. This will be followed by the East Asia/Europe market, which, it is predicted, will rise about five per cent. The freight volumes of the Europe/North America sector, however, will maintain the present level of growth for the next few years, it is felt. One of the major reasons why the East Asia-North America and East Asia-Europe sectors will post higher growth is the steady growth currently being experienced by China in foreign trade, particularly after its entry to the World Trade Organisation. The immediate beneficiary of this growth will, of course, be Hong Kong where people connected with air transportation are hopeful of sustained growth. However, other places in the region too are likely to benefit from it.
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