Air cargo plummets for U.S. carriers

Air cargo plummets for U.S. carriers Cargo volumes plunged 21 percent in January for the nation's air carriers, compared to the same month in 2008, the Air Transport Association reported on Friday.
   The biggest drop in volume, as measured in revenue-ton miles flown, was in transpacific traffic, where cargo volumes were down 32 percent.
   The steep decline in cargo traffic follows consecutive 17 percent decreases in November and December. The data includes figures from FedEx and UPS, but not United Airlines.
   The ATA does not have cargo figures for February and actual traffic numbers were not available.
   Slow demand and lower rates for passenger service are also hurting airlines. Passenger revenue in February was down 19 percent, the ATA said. It is the fourth consecutive month in which revenue has fallen from the previous year.
   Airlines have grounded many aircraft to better align their costs with demand, but are still losing hundreds of millions of dollars each quarter.