Weakness continues for Asia Pacific cargo markets
Prolonged weakness continues in June for the Asia Pacific air cargo markets, according to preliminary traffic figures from the Association of Asia Pacific Airlines.
Asia Pacific airlines carried more international passengers, but international air cargo demand, expressed in freight tonne kilometers, was 2.2 percent lower year over year, reflecting continued weakness in key export markets.
Offered freight capacity increased marginally, by 0.3 percent, leading to a 1.7 percentage point fall in the average international air cargo load factor to 66.2 percent.
"Demand for air travel remains relatively robust, maintaining the established growth trend, and still outpacing expectations of more moderate growth in the wider economy. Air cargo markets, however, remain depressed, with Asian airlines reporting a 2.4 percent decline in freight traffic for the first six months of the year, reflecting persistent weakness in global trade conditions," Andrew Herdman, AAPA director general said. "Prospects for the second half of the year remain challenging, given the underlying uncertainty over the global economic outlook, but Asian airlines are still confident about future growth prospects and are continuing to invest in further route development and customer service initiatives."