Flying gets metal-neutral
Seen as a threat by American and European unions Liner shipping executives flying across the Pacific next month might not be aware they could be enjoying the benefits of what has been called the most important development in aviation since the invention of jet aircraft. The likelihood is the airline they will be using is a partner in one of two new American-Japanese joint ventures that have been granted exemption from anti-trust regulations by the relevant agencies in the US and Japan. The approval of immunity last year came as the debate in shipping over how it is treated around the word by competition authorities was being re-ignited. Liner shipping had been thrown into turmoil by the crash of 2008, leading to reductions in capacity through vessel lay-ups and slow-steaming that in turn caused disruptions to supply chains and to extreme volatility in rates. Shippers criticised the lines which in turn blamed the restrictions imposed on them by competition regulators. Aviation was not without its own turbulence as it struggled to emerge from the recession only to be hit by clouds of volcanic ash and snowbound airports in Europe. At the same time it was flying through the storm of ...
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