Both cargo demand and capacity declined in the Asia-Pacific last month, Association of Asia Pacific Airlines statistics revealed. Falling 0.8 percent and 1.4 percent, year-over-year, respectively, these losses are still less dramatic than those seen in the Asia-Pacific from a six-month perspective.
According to a press release, Asian freight demand and capacity slid 4.3 percent and 2.6 percent, year-over-year, respectively, during the first half of 2012. Freight load factor also lagged during this period, dropping 1.2 percent, year-over-year, to 66.2 percent.
The region saw a higher cargo load factor in June, however. Rising 0.4 percent, year-over-year, freight load factor totaled 67.8 percent in the Asia-Pacific last month, according to the press release.
Even so, this figure is markedly below the region’s passenger load factor, which swelled to 80.2 percent in June. The Asia-Pacific also saw an 8.1 percent, year-over-year, boost in passenger traffic last month amid a 4.3 percent, year-over-year, capacity surge.
AAPA Director General Andrew Herdman commented on the discrepancy between passenger and freight operations in the Asia-Pacific, blaming it on “weak consumer confidence in major developed markets.” He added that “although passenger demand has held up well, weak air cargo demand has undermined overall revenue growth, while cost pressures from high fuel prices squeezed already thin margins.
“Oil prices have moderated from their recent highs, providing a measure of relief,” Herdman continued, “but prospects for the second half of the year are still overshadowed by continuing uncertainty over the weak global economic outlook.”