Asian Airlines see cargo growth slow in November

The latest figures for the Association of Asia Pacific Airlines (AAPA) shows that cargo demand growth slowed in November as business orders weakened.
The latest AAPA figures show that cargo demand was up by 0.1% year on year in November compared with a 4.3% increase over the first 11 months of the year.
Cargo load factors for the month were also down on a year earlier, slipping to 65.2% against 69% last year as capacity increased by just under 6%.
AAPA director general Andrew Herdman said the figures reflected a slowdown in business orders. However, it could have been a harder month for airlines in the region if it hadn’t been for e-commerce.
Herdman said: "The moderation in export activity with slowing business orders, contributed to the slowdown in air cargo growth for the month, although this was mitigated by higher volumes of e-commerce shipments going into the end-year festive season.
"Overall, the region’s airlines recorded a cumulative 4.3% increase in air cargo demand during the first eleven months of the year, a reasonably solid growth rate following the exceptionally strong 9.6% annual increase recorded in 2017.
"Prospects remain relatively positive. Continued moderate growth in the global economy and lowered oil prices should support further expansion in air travel demand and air cargo markets in the coming year, although the recent deterioration in trade sentiment and uncertainties over the potential impact on consumer confidence levels present some downside risks.
"Overall, Asian airlines continue to exercise vigilance in monitoring any changes in market conditions, whilst seeking growth opportunities."
Looking at individual airline performance, Cathay Pacific saw November cargo traffic decline by 1.1% year on year to 1.1bn revenue freight tonne kms.
Air China and China Southern both recorded a 2% increase while at SIA Cargo there was a 3% decline.
Click on chart for interactive version

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