Asia’s peak season bubble bursts
14 / 10 / 2010
AIRLINES and multinational freight forwarders have overestimated the airfreight demand from Asia in the current peak season and overcapacity is again looming.
The key gateways of Shanghai and Hong Kong are producing volumes some 20-25 per cent lower than forecast, and this is having a dramatic effect on the capacity plans drawn up in anticipation of a 2009-style boom season.
The peak period has started well below expectations said Jean-Charles Foucault (right), senior vice-president sales and distribution for Air France-KLM. “We are all very dependent on Asia, and there we see the peak not booming yet, especially in the two key markets of China and Hong Kong,” he says.
For the full story read the latest free digital edition of Air Cargo News, no. 688 dated 18 October, here.