Originally Posted by sky jet

Yes, controversial. I will respectfully disagree. A global recession while having a fuel cost component would if it happens have many other factors that will effect the airfreight industry. Slowing or shuttered industries. Lost consumer confidence. Shrinking military budgets due to lowered tax collections from unemployed or underemployed taxpayers. Soaring interest rates. Mortgage foreclosures and buisness bankruptcies. These are just a few of the unpleasant things that will happen in a recession. We are not talking about an economic downturn, we are discussing a declared national or world wide recession. Just like a rising tide raises all boats a receding tide brings everyone down. Let's hope we don't have to find out whose theory is correct.