According to Fin24, IATA's director, Tony Tyler says that air freight is among the first sectors to suffer when business confidence declines and points out that while there has been a 1% drop in world trade, air cargo volumes have fallen by almost 5%.
On a positive note, Tyler is reported to have said that European airlines have shown strong demand growth of 6,4% this year and this is significant because the European market accounts for almost 30% of all passengers travelling on airlines.
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