Cry of alarm for air cargo

As noted in LM this week, the air cargo industry has reached a crisis stage. According to Giovanni Bisignani, IATA’s Director General and CEO, free market forces must be allowed to drive the recovery.
“We cannot bear the cost of government micro-regulation, crazy taxation and partners abusing their monopoly power,” he said in his State of the Industry  address in Kuala Lumpur.
In a similar vein, Bisignani urged governments to avoid protectionist policies as they stimulate economies. “The forces of de-globalization are gathering strength. World trade is already suffering with a 15 percent downturn. Protectionism is the enemy of global prosperity. In the 1930s, it prolonged the recession. And it will not work today. To build a strong global economy, we must fight hard to keep the world trading,” said Bisignani.