The International Air Transport Association said there are signs the slump in cargo demand may have bottomed out, with the Middle Eastern airlines showing particularly strong growth, IATA said.

"It is possible to identify the start of a growth trend in cargo for some parts of the world. But economic uncertainty in Europe makes it very difficult to be optimistic in the near to medium-term," said Geneva-based IATA's director-general and chief executive Tony Tyler. (Reuters)