Emirates sees cargo reaching trough by end-May

Dubai's Emirates airline expects the air cargo industry to reach its trough by the end of May, its cargo head told Reuters on Wednesday.

"We are going to see some more pain in the next 3-4 months. But by the end of this month, we will have seen the worst," said Ram Menen, divisional senior vice president cargo at Emirates.

Emirates, among the world's 10 biggest cargo carriers, posted annual sales of $6.5 billion in its fiscal year ended March 31, 2008. It has not yet published figures for the fiscal year that ended on March 31 this year.