Cathay Pacific Airways has reported that there has only been a small increase in freight ahead of the Christmas shopping season that is “nothing like the really strong peak we might have seen,” said chief executive officer John Slosar. The slow growth this quarter will serve to prolong the 18-month depression in freight volumes. Low growth suggests that US and European retailers are placing smaller orders due to the grim economy. The Association of Asia-Pacific Airlines has reported that its 15 member-airlines suffered a 3.2% drop in cargo volumes in the first nine months of the year, while the proportion

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