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航空货运公司年终总结英文版As XX draws to a close, a handful of air cargo leaders have taken the time to reflect on a tumultuous year. From supply chains ravaged by the Japanese tsunami to economic instability permeating theand the eurozone, the airfreight industry has taken numerous hits throughout XX. But can the lessons gleaned from these difficult times be used to avoid similar fates in the future?In the final installment of the three-part series (view parts one and two here), Hong Kong Air Cargo Terminals Ltd. Managing Director Mark Whitehead and Emirates Airlines Divisional Senior Vice President, Cargo, Ram Menen discuss the past year and their projections for XX.What was the most significant storyline of XX?Mark Whitehead: Amid the Japanese tsunami and its mercial aftershocks, the New Zealand earthquake, squabbles with the Transportation Security Administration over deadlines to meet their heightened security requirements and the ongoing saga of surcharges, the dominant storyline for us in XX was falling tonnages on major routes particularly those out of Hong Kong.But we are not convinced that this swath of negative coverage is really justified we feel there have been too many parisons to XX, leading to the impression that XX has turned out to be much worse than it should. In Hactls own case, we could fall farther and yet still beat our previous peak of XX, which would be no small achievement.XX was a post-recession bounce fueled by global restocking, so it was always going to be hard to beat. But many in the air cargo industry thought XX was a sign of even better things to e and budgeted for incremental growth in XX. They now have a major problem.Ram Menen: The market slowdown is, obviously, the topic that has dominated the industry. But what is most remarkable about XX is the number and diversity of factors that contributed to the slowdown. Natural disasters,such as the tsunami in Japan and the Thai floods, were major events that not only impacted exports and imports in those countries directly, but also hit global supply chains. Production lines in factories were halted due to the sudden shortage of vital ponents.Economic instability has also been a significant issue, with the various crises across Europe and the politicalization of the deficit ceiling in theall rocking consumer confidence. We also cant forget the sustained high cost of fuel, which is an ongoing challenge for the air cargo industry. On the plus side, it was good to see the Boeing 747-8F enter service, while the Arab Spring heralds a new beginning for many businesses in the region and will stimulate international trade.What lessons have you learned in XX that will help you have a successful XX?Menen: You can never trust forecasts. Old rules dont apply, and the new rules havent been written. The industry is being less predictable every year, with more and more challenges arising. Of course, the price of oil is always something we have to contend with, but, worryingly, natural disasters seem to be happening at a more frequent rate, while increasingly more national economies are struggling. We are continually learning, and every challenge helps us bee better prepared to manage whatever new challenges XX brings.Whitehead: As a relative newer to this industry (I became Hactls managing director in September XX), but a long-term observer of others while working at a senior level, I have quickly learned how sensitive air cargo is to the health of the global economy and how reactive it is to consumer demand.Air cargo is a business that can boom in response to the release of a single, new piece of consumer technology (, the iPhone 4, the latest Playstation or the Kindle) or crash because fears of defaults in one small economy have threatened to upset the currency of 16 others. I now realize thatthe major strength of air cargo its ability to respond to sudden changes in consumer demand is also its major weakness.Im developing the view that any prediction in air cargo is pointless if its based only on a recent or short-lived trend (like the one displayed in XX), rather than the extrapolation of a long-term picture that has been proven right by history. You could say that this risks missing the next major opportunity, but I dont think so. It avoids the equally serious risk of assuming lots of additional overhead that could quickly bee a millstone if predictions fall short.History usually repeats itself, and long-term trends of the past, which incorporate past peaks and troughs, are a much better basis for predicting future trends. That alone is not enough, however. The trick is surely also to factor in additional growth from real prospects of business gains that are within your influence and consider the possible effects of any real or

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