The chief executive of air cargo carrier Atlas Air Worldwide Holdings said on he expects more capacity reductions in air freight in the wake of market declines, Reuters reported.
"There's still an imbalance there between traffic and capacity and that puts pressure" on rates, William Flynn said in an interview at the Paris Air Show.
"It's my belief that more capacity is going to come out."
Thirty-five percent of the value of goods traded internationally is shipped via cargo, according to the International Air Transport Association.
Since December 2008, monthly international cargo volumes have stabilised, albeit at levels 20 percent lower than year-earlier levels, IATA has said.
Flynn said Atlas had retired 11 of its 17 aging 747-200 aircraft this year, and he did not rule out removing more from service. |
