Hong Kong International Airport reports 8% traffic slip

By Freddie Pierce
Its never a good thing when an industry leader takes a tumble. For the global air freight business, Hong Kong International Airport is seen as a bellwe...

It’s never a good thing when an industry leader takes a tumble. For the global air freight business, Hong Kong International Airport is seen as a bellwether for the industry, but a poor October has cast doubt over the air cargo industry.

Hong Kong saw cargo volumes plummet 8.2 percent from the same month a year ago despite airlines projecting a surge in peak season shipping. That didn’t happen, however, as the world’s largest cargo airport reported little to raise the hopes within the airline community.

Much of Hong Kong International Airport’s struggling cargo volumes stem from diminished trade from southern China. A declining demand from the United States and Europe hurt air cargo volume, while flooding in Thailand had an adverse impact on the industry, according to Airport Authority Hong Kong CEO Stanley Hui Hon-chung.

Imports and transshipments didn’t fare much better in October, as they fell by 8 percent and 10 percent, respectively.

SEE OTHER TOP AIR FREIGHT STORIES IN THE SUPPLY CHAIN DIGITAL CONTENT NETWORK

Air freight traffic expected to triple in 20 years

Thailand flooding impacts air freight

November’s issue of Supply Chain Digital is here!

Hong Kong International Airport’s October struggles aren’t anything new to the air freight industry, however. According to HKIA, Europe, North America, Chinese Mainland and Taiwan all experienced double-digit decreases in traffic volume compared to last year.

There is a glimmer of hope for the industry, however. Hong Kong International Airport did experience a slight bump in business from a monthly standpoint, as its October volumes were a 5 percent increase over September’s numbers.

Click here to download Supply Chain Digital’s iPad app!

Share

Featured Articles

EY: GenAI in supply chain 'hampered by roadblocks'

EY Principal of Supply Chain & Operations Sumit Dutta says GenAI use cases show promise but that adoption is hampered by skills shortage and legacy

Sustainability LIVE Net Zero to Focus on Scope 3 Insights

Sustainability LIVE Net Zero event being held in London from March 6-7 offers insight, advice and discussions around supply chain sustainability

SAP: US, UK & India elections 'will impact supply chain'

SAP Business Network SVP Tony Harris warns business leaders to prepare for more supply chain disruption following key elections in US, UK and India

Appian & Xebia to share AI-driven S&OP Insights

Technology

COMING SOON: Top 100 Women in Supply Chain 2024

Sustainability

Supply Chain Optimisation 'Stymied by Data Silos'

Digital Supply Chain