Groundhog day for Asian freight carriers

ASIAN carriers saw little improvement in international freight volumes in June, says the Association of Asia Pacific Airlines (AAPA).
Air cargo markets remained “depressed” with traffic – measured in freight tonne kilometres terms – down by 4.3 per cent for the first six months of the 2012, reflecting weak consumer confidence in major developed markets, according to Andrew Herdman, the AAPA’s director general. 
 “Although passenger demand has held up well, weak air cargo demand has undermined overall revenue growth, whilst cost pressures from high fuel prices squeezed already thin margins,” he concludes.
“Oil prices have moderated from their recent highs, providing a measure of relief, but prospects for the second half of the year are still overshadowed by continuing uncertainty over the weak global economic outlook.” 
Herdman went on say Asian airlines were being “relatively cautious” and carefully managing costs.
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