Airfreight continues to decline in Asia Pacific
Freight volumes in Asia-Pacific fell 4.4 percent year on year in August, in line with a similar drop of 4.1 percent in cargo capacity year-on year recorded last month, in what was the sixth consecutive month of cargo declines in the Asia-Pacific, according to the Association of Asia Pacific Airlines (AAPA) statistics.
Cargo traffic in the region has been so sluggish that February has been the only month of gains in 2012 so far, although this figure was pinpointed as misleading as the Chinese New Year started in the first week of February 2011.
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Airfreight continues to decline in Asia Pacific. In an online statement, the AAPA blamed the prolonged depression in the markets on ‘weakening consumer confidence in the major developed economies’, which has led to a corresponding slowdown in exports from Asia.
International air cargo demand, as expressed in freight tonne kilometre (FTK) terms, was 4.4% lower in August compared to the same month last year. Combined with a 4.1% reduction in offered freight capacity, the average international air cargo load factor was almost unchanged, at 64.6%.
Commenting on the results, Mr. Andrew Herdman, AAPA Director General said, “Whilst the overall pace of global economic activity is clearly slowing, Asian economies have so far remained relatively resilient with domestic demand still supporting business and leisure related travel.
“However, we are still seeing persistent weakness in air cargo markets, with Asian carriers posting a 4.4% decline in international air cargo demand during the first eight months of the year, with no sign of any upturn.”