AAPA reports international air cargo markets continue to soften

Traffic figures for the month of September released by the Association of Asia Pacific Airlines (AAPA) show international air freight markets continued to soften.

As a result of a slowdown in trade activities, Asia Pacific international air cargo demand declined 6.5% compared to the same month last year to 5,033m freight tonne kilometres (FTK). Offered freight capacity contracted by 1.3%, resulting in a 3.5 percentage point decline in the average international air cargo load factor for the region’s carriers to 63.8% for the month. For the first nine months of the year traffic volumes were 45,684m FTK, a 4.1% decline compared to the same period in 2010 (see Ti Dashboard – Air Cargo: Carriers).

Commenting on the results, Andrew Herdman, AAPA Director General said, "A slowdown in export demand, as a result of the ongoing European economic crisis and softening North American economies, contributed to the fall in overall cargo traffic. As a result, Asian airlines have seen only modest revenue growth this year. At the same time, airlines have had to grapple with a 40% increase in jet fuel prices, squeezing what are typically already very thin margins."

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