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The International Air Transport Association (IATA) estimates that global air cargo traffic will grow at an average annual rate of 5.3 per cent till 2010 and the bulk of it will be in Asia — which accounts for 8.3 million tonnes, or about 26 per cent of the total. The total value of the global air cargo business is currently estimated at $55 billion annually.

Meanwhile, the Director-General of IATA, Mr Giovanni Bisignani, has been quoted as describing the US moves to screen all air cargo on security grounds as "smart but expensive - $3.6 billion over 10 years". The solution is a risk-based approach that involves the entire supply chain and cost-efficient technologies.

IATA's e-freight — which faced challenges initially — will be up and running by the end of this year in five key locations: Singapore, Hong Kong, Canada, the Netherlands and UK.

Our Bureau

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Air cargo traffic to grow at 5.3%

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