Despite double digit falls in freight cargo at the end of 2008, the International Air Transport Association (IATA) has said the fall stabilised in March 2009 and expects no further drop in the demand.

Latest figures released by IATA, showed the March cargo decline slow to 21.4% fall as compared to same month last year.

This was an improvement on the January 2009 figure which showed a fall of 23.2%.

Releasing the latest figures, IATA director general Giovanni Bisignani said that it was not the end of the decline but the sector may have found its floor.

The international cargo demand for the fourth consecutive month is continuously witnessing a fall in the range of 21% to 24%, due to sharp decline in world trade.

Manufacturers seeking to correct large inventory overhangs that emerged in late 2008 have partly added to the drastic drop in air freight.