Cuts fear in US
16 / 10 / 2012
US GOVERNMENT cuts could devastate air freight – a trade association has warned.
In a study released by the Aerospace Industries Association and Econsult Corporation experts estimate the industry will lose 900,000 tonnes of freight business if an automatic budget squeeze cannot be avoided.
The cuts known as sequestration will be triggered on January 2 – unless US congress can agree on a budget deficit reduction programme.
Former US transportation secretary Norman Mineta has branded the potential cuts as “folly beyond comparison”.