Weak trade growth keeps Asia Pacific airfreight flat
There is continued weakness in Asia Pacific air cargo markets, according to preliminary August traffic figures released Friday by the Association of Asia Pacific Airlines.
Airfreight markets remained soft in August as a result of sluggish global trading conditions. International air cargo demand, expressed in freight tonne kilometers, was just 0.3 percent higher in August compared to the same month in 2012.
Offered freight capacity increased by 2.8 percent, leading to a 1.6 percentage point fall in the average international freight load factor to 63.1 percent for the month.
“Airfreight markets have been persistently soft, with a 1.7 percent fall in airfreight demand during the first eight months of the year, as a result of lackluster trade growth and relatively weak markets for electronic products and other high-value goods normally shipped by air,” Andrew Herdman, AAPA director general, said. “There are some signs that the slump in air cargo experienced over the past couple of years may be bottoming out, at least in volume terms, but surplus cargo capacity will continue to exert downward pressure on rates. Overall, Asian airlines are focusing on further growth opportunities, but still face very challenging business conditions."