US uptick lends hope for cargo

The air cargo market could improve in the course of this year, according to an IATA economist.

"There is light at the end of the tunnel because of the increasing confidence of American consumers," IATA chief economist Brian Pearce told at the IATA World Cargo Symposium in Kuala Lumpur.

Pearce's remarks were one of the few spots of optimism in an industry that basically expects to flatline this year. However, an electronic poll at the symposium revealed that 37% of those in attendance expect to see their companies do more business this year, although none said by how much or which sectors they were in.

IATA will issue a revised forecast later this month, but it expects cargo to generate 11% of total revenues or $66 billion.

"Consumer confidence in the US, a key driver in the industry is picking up. Things are starting to look better ... it does look slightly better than it did six months ago," Pearce said. One issue of concern is the ongoing crisis within the Eurozone. "It’s stabilizing but not resolved," Pearce said. 

Article Source : ATW Daily News