Air Cargo is a US$50 billion business that transports 35% of the value of goods traded internationally and a critical part of the airline business which, as a whole, is the US$490 billion heart of a value chain that supports 32 million jobs and US$3.5 trillion of economic activity. It is an important industry that is critical to global business.
IATA’s job is to improve our industry’s competitiveness. Last year we saved US$5 billion by cutting airport and ANSP charges and improving fuel efficiency. Simplifying the Business is delivering results. E-freight is a reality and our US$28 billion settlement system is the supply chain's financial backbone. CASS is an important part of the settlement system. In the last four years the CASS network grew 60%. It now covers 72 countries, handling almost half the business - US$23 billion with a collection rate of over 99.994%.
IATA Cargo Priorities
Our goal is to bring simplicity and efficiency to the air cargo industry. We aim to achieve this by delivering the following challenging agenda:
IATA Cargo Economic Watch - Q4 2009
Key points:
- This past quarter has begun to show more consistent signs of an improvement in the air freight business.
- Volumes and yields are now moving in the right direction – upwards – although there is still a long way to go before early 2008 levels are regained.
- The revival in economic growth is very uneven – with a strong rebound in Asia and parts of South America but weak growth in developed markets – and is expected to remain that way for some time.
- World trade is now picking up adding to the impetus given to air freight by the inventory cycle and mode switching.
- Yields are starting to turn up, as load factors fully recover, but low aircraft utilization and scheduled deliveries imply that capacity remains a threat to restoring profitability.
More information and detailed reports available in the Cargo e-Chartbook