BYLINE: BRUCE BARNARD
Global air cargo traffic plunged "an unprecedented and shocking" 22.6 percent in December from a year ago, the International Air Transport Association reported last month.
"There is no clearer description of the slowdown in world trade," said Giovanni Bisignani, director general of the Geneva, Switzerland-based organization. Air cargo accounts for about 35 percent of the value of internationally traded goods.
For the full year, international air cargo volume contracted 4 percent compared with 4.3 percent growth in 2007.
Passenger traffic was down a modest 4.6 percent in December, supported by year-end leisure travel …