some of the Middle East nations regained their foothold as oil prices recovered in the second half of 2009. The fortunes of the two other BRIC
(Brazil, Russia, India and China) nations, Brazil and India, feature in separate articles elsewhere in this issue of Air Logistics Management. The situation in Brazil highlights the concern that a slowing economy is more troubling than high inflation – even though inflation, long the biggest millstone of Latin America's biggest economy, soars past target levels. A lot of interest in 2012 will centre on
the merger of the two major Latin American airlines, Brazilian airline TAM and Chile’s LAN, a union that has now been approved by the relevant anti-trust authorities. Last year, TAM and LAN between them flew more than 45 million passengers and carried 755,000 tonnes of cargo, so the merger will create the largest carrier in the region, representing 6 percent of global air transport capacity.
In Delhi, Indian finance minister
Pranab Mukherjee remarked that the country witnessed low economic growth rate toward the end of last year, but even if that falls below earlier expectations, “we will still be among the 10 or so fastest-growing nations in the world”.
The potential in Africa With a huge reserve of mineral wealth and a vast agricultural ability to feed the world with eagerly-consumed produce, political instability in many African countries is always a major problem. Most African economies base their fortunes on raw materials or fresh agricultural products that are exported by air for the foreign cash needed to import finished products. Africa still imports many of the
manufactured goods and services that it could arguably produce at home and this situation needs to be rectified. African countries will have to trade more
The situation in Brazil highlights the concern that a slowing economy in more troubling than high inflation
smartly with their newfound allies in emerging markets as well as with the traditional industrial powers. The World Bank raised its forecast for
economic growth in Sub-Saharan Africa from 4.7 to 5.3 percent in 2011 as the
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