Cargo demand still weak for Asia Pacific carriers
International air cargo demand remained weak for Asia Pacific carriers, according to July traffic figures released today by the Association of Asia Pacific Airlines.
For Asia Pacific airlines, international air cargo demand, in freight tonne kilometers, fell by 2.6 percent in July compared to the same month last year. Offered freight capacity increased by 1.8 percent, resulting in a decrease in the average international freight load factor by 2.9 percentage points to 64.2 percent for the month.
Meanwhile, Asia Pacific carriers carried a total of 19.5 million international passengers in July, a 6.6 percent increase year over year.
"Airfreight markets remained weak, with a further 2.4 percent fall in airfreight demand during the first seven months of the year, as a result of weak demand in Europe and other key export markets," Andrew Herdman, AAPA director general said. "Asian airlines have been badly affected by the extended slump in the air cargo market, with surplus freighter capacity depressing both rates and aircraft values. Whilst the outlook for further global economic growth remains positive, airlines continue to focus on delivering productivity improvements and remain vigilant in managing costs throughout the business."