Freight volumes in the Asia-Pacific region fell 4.4 percent, year-over-year, in August, a drop in line with the 4.1-percent, year-over-year, decrease in cargo capacity the area recorded last month. Such losses aren't exclusive to August, however; last month marked the sixth consecutive month of cargo declines in the Asia-Pacific, according to Association of Asia Pacific Airlines statistics.
Just before its break, the U.S. Senate quickly and quietly passed the "European Union Emissions Trading Scheme Prohibition Act of 2011," the latest attempt to exempt American airlines from paying fees imposed by the European Union to cover the greenhouse gases their planes emit while flying to and from European airports.
The U.S. airfreight market generated revenues of $28bn in 2011, a 7.4 percent, year-over-year, increase. Although a seemingly positive development, this figure is on par with the revenues the industry recorded in the 2000-2001 financial year. Such statistics show that the U.S. - despite the domination of integrators FedEx and UPS - isn't immune to the sluggishness affecting the global airfreight market, a new study conducted by Air Cargo Management Group asserted.