Singapore’s Changi sees cargo volumes fall 8% in August

Singapore Changi Airport saw airfreight throughput fall 8% year on year in August to 169,000 tonnes, the eighth successive month of decline in airfreight tonnages this year at the key Asian hub.

These latest figures confirm a weakening of demand in Asia.

Only this week Asia Pacific airlines saw air cargo demand in freight tonne km (FTK) fall 6.4% year-on-year in August against a backdrop of “diminishing business confidence levels and significant declines in international trade volumes”.

The Association of Asia Pacific Airlines’ (AAPA) latest monthly report indicated “subdued demand conditions,” in August with businesses “remaining cautious” on their inventories, both factors contributing to the “persistent weakness” in demand.

Cargo throughput at Hong Kong International Airport (HKIA) dropped 11.5% year-on-year in August to 382,000 tonnes due to global trade uncertainty, said the airport authority.