February air freight falls 22%
Airlines hauled 22.1 percent less freight in February compared to the same month in 2008, according to the International Air Transport Association.
It is the third consecutive month that air freight volumes have been more than 22 percent below previous year levels.
Air carriers were also hit hard by a 10 percent drop in passenger volumes, which exceeded the industry's 5.9 percent reduction in capacity.
'We may have found a bottom to the freight decline, but the magnitude of the drop means that it will take time to recover,' IATA Director General Giovanni Bisignani said.
He called on governments to reduce aviation taxes, landing charges and restrictions on cross-border mergers to help the industry survive.
Earlier this week, IATA projected that air cargo volume would drop 13 percent and airline revenues would decline 12 percent, or $62 billion, in 2009.