ATLAS AIR PREDICTS EUROPEAN AIR CARGO VOLUMES WILL SOAR

ATLAS AIR PREDICTS EUROPEAN AIR CARGO VOLUMES WILL SOAR    Western Europe's air cargo volumes will grow 22 worldwide from 1999 to 2003, according to a report by Atlas Air, the freighter operator that charters aircraft, crew, maintenance and insurance to the world's leading airlines.
   In the study, which was based on projections by MergeGlobal, the Virginia-based transportation consultant, Europe air volumes with the Asia Pacific are expected to grow twice as fast as Europe/North America trade. However, Europe/North America volumes will continue to outdistance Europe/Asia Pacific volumes by 29 percent in 2003, Atlas Air said.
   The United Kingdom is the largest importer among western European countries, but Germany leads in overall import/export volume. Italy is projected to be the fastest-growing country, with a compounded annual rate of 5.8 percent. Italy is expected to move from fifth to fourth place, behind Germany, the United Kingdom and France in terms of overall trade volume, the study said.
   Electrical and industrial apparatus is the largest export sector by European Union countries. Computers and computer-related equipment is the leading import group — computers and equipment are also key to export growth in the United Kingdom.