ABSTRACT
Airlines such as Korean Air, Cathay Pacific and Singapore Airlines have grown their freight business at annual rates well above the world average and significantly higher than those being achieved by most European or North American airlines. The relative decline of all-cargo scheduled services was reversed in the mid-1990s as a result of the rapid growth in demand for air freight, especially from the export-oriented economies of East Asia. Most governments have appreciated the benefits of freeing up air trade and have been loath to interfere in or attempt to control freight tariffs. Historically, the looser regulation of air freight services compared to that of passenger services has led to the emergence of a fairly heterogeneous industry with several different key players. According to international air transport association, slightly less than half of international air freight and mail travels in the belly-holds of the passenger aircraft operated by combination carriers.
