Asia-Pacific cargo dwindles

ASSOCIATION of Asia Pacific Airlines’ (AAPA) data for October shows further growth in international air passenger travel, but diminishing worldwide airfreight levels.

Global air cargo markets showed further weakness in October, with Asia-Pacific carriers reporting a 7.7 per cent decline in freight tonne kilometre (FTK) terms, compared to the same month last year. The average international air cargo load factor for Asia-Pacific carriers fell by 3.9 per cent, to 66.8 per cent, after a 2.4 per cent reduction in offered freight capacity.

“Asian exports have been negatively impacted by the pattern of slower economic growth seen in Europe and North America, particularly in the second half of the year,” Andrew Herdman, AAPA director general, said.

“Asian airlines are continuing to benefit from relatively strong economic growth in developing economies across the region, but airline margins have been squeezed by sharply higher fuel prices this year. Despite these challenges, optimism about the long-term outlook is reflected in ambitious fleet expansion plans and innovative new business ventures,” Herdman added.