The International Air Transport Association (IATA) reports that air freight volume fell by 4.7% in October, compared with the same month a year ago. Passenger traffic increased by 3.6% in the same period.
Part of the reason for the drop, according to IATA, is a drop in business confidence. Another part of the reason is that shippers switch to slower, cheaper modes of transportation when times are bad. That could partially account for recent increases in US rail traffic.
Carriers have responded by reducing the size of their fleets, but that has not stopped the decline in cargo traffic, which is down about 5% from mid-2011 levels.
Paul Ausick
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
