Global air cargo traffic growth rates have been disappointingly below average for the past three years, holding at 4%-5% for each of the last two years following growth of just 2% in 2005. That falls short of the 6.1% annual average growth over the long term projected by Boeing, Airbus and other observers, and well below the overall global cargo growth rate of 10% for all forms of transport. Some air cargo operators fear that a portion of the cargo they were transporting earlier in the decade has gone out to sea. IATA DG and CEO Giovanni Bisignani tells A TW that shippers increasingly are moving cargo from airlines to ocean carriers. He blames cumbersome airfreight customs clearance regulations and credits a fast-improving ocean shipping industry. "We're losing market share in the big picture," he says.
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