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It’s an eye-catching title. CAPA has published an interesting analysis of the air freight market, and much of what it says will be welcomed by many in the industry. “Regardless of the demand outlook, an industry that uses less than half of the capacity that it offers is in serious need of structural change,” it argues. Better still, it makes the point that bellies, where the majority of the overcapacity lies, are not, as some airlines might argue, a “free ...

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