Air cargo industry urged to work together to face future

[SINGAPORE] The air cargo industry must work together to deliver better quality standards, greater efficiency and more effective security to face the challenging operating conditions, said director-general of the International Air Transport Association (IATA) Tony Tyler.

Since 2010, the industry has been battling flat volumes, with 2 per cent growth in air cargo demand versus 12 per cent growth in global trade in the same time span. Yields, revenues and market share have also been coming down.

Meanwhile, passenger demand is growing at a faster pace than cargo demand, which means additional capacity from the bellyhold of passenger planes as airlines take delivery of new aircraft even as the cargo industry grapples with soft freight load factors.