US and China trade tensions will hammer air cargo this
year, the International Air Transport
Association warns and IATA slashed its air cargo growth forecast for this year.
According to AFP, the global body said air
cargo volumes are likely to rise by two per cent this year, halving its earlier
projection of 3.7 per cent that it released in December.
Air freight traffic contracted 1.8
per cent in January, IATA director general and chief executive
Alexandre de Juniac pointed out to a conference in Singapore.
"We are facing a problem with
world trade. Cross-border trade is weakening very sharply and that's the thing
that's damaging our business in the cargo world," IATA chief economist Brian Pearce
said.
The group said uncertainty over Brexit
and general
trade protectionism was also hitting air cargo growth.
US and Chinese officials have said
they are making progress towards a resolution of their hard-hitting trade
dispute but conflicting messages out of Washington and Beijing mean it is still
not clear when a deal may finally be sealed.
Source : HKSG.
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