IATA predicts 6% annual growth for cargo through 2008

IATA predicts 6% annual growth for cargo through 2008    The International Air Transport Association (IATA) has forecast that air cargo tonnage will increase 6 percent annually through 2008, commencing with a 10.1 percent growth in 2004.
   'The 6 percent annual increase forecast through 2008 relies heavily on the Asia-Pacific region, with markets linked to China and India expected to grow most rapidly,' IATA said in a statement.
   'Europe to Asia-Pacific will be the fastest growing market with 7 percent annual growth. Traffic within Asia-Pacific and between the Middle East and Europe will also be above the global average at 6.1 percent,' IATA said.
   'It looks like we will finish 2004 with the strongest traffic rebound that the industry has seen since the 1991 recovery from the effects of the Gulf War. Expectations for the rest of the forecast are in line with historical industry trends. If nothing changes in the operating environment, this is the start of a good news story for the industry,' said Giovanni Bisignani, IATA's director-general and chief executive officer.
   IATA also forecast a 6 percent annual increase in passenger traffic for 2004-2008.