Air cargo recovery will take up to three years

Air cargo firms are
cautious about projected
improvements in 2010, but
almost all only foresee a
return to 2007 peak levels
within one to three years,
according to the 2010 Global
Air Cargo CEO Survey
by consulting firm Oliver
Wyman.
"As the industry slowly
emerges from the worst-ever
demand crisis, key lessons
learned are that faster
response, added financial
flexibility, more conservative
capacity planning, and
diversification of risk across
markets and products are
key elements to successfully
manage in a downturn," says
Niko Herrmann, a partner at
Oliver Wyman.
"Carriers in the future
will require financial and
network strength as well as
enhanced organisational and
management capabilities to
get the best out of their cargo
capacity."
This year's survey of more
than 30 CEOs of top global
air cargo players found that,
while the global economy
may be showing signs of
stabilisation, the recovery in
the air cargo market is still
fragile.
The majority of growth
is expected to come from
China and North Asia,
followed by the rest of
Asia-Pacific, and air cargo
providers plan to focus on
these regions.