Air cargo volumes continue to fall
The air cargo volumes react always most sensitively to a slow-down in the world economy. The stress signs in the air cargo industry are increasing.
Air cargo volumes have been in decline for nearly three quarters of a year in the northern hemisphere. In the southern hemisphere the slow-down of the world economy seems to have had less impact with some countries showing significant increases in air cargo volumes. Overall, global air freight volumes fell by almost 2% according to statistics from the Airports Council International (ACI). And the first all-cargo carriers are quitting the race. The New Year started with announcements that Lufthansa’s Chinese subsidiary Jade Cargo and Cargoitalia have grounded their planes. Air India recently announced that it wants to sell six 30-year-old B737 converted freighters. The airline has debts exceeding USD 4 billion. A government report in December stated that the total debt of India’s airlines is expected to hit USD 20 billion in the year ending March. Air France-KLM, the largest European airline group, is also on a cost cutting drive. After a disastrous 2011 the airline wants to cut costs by over EUR 1 billion until 2014, reduce the fleet, drive down debts to EUR 4.5, and increase efficiency.
www.airports.org
www.airfranceklm-finance.com
www.airindia.com
www.cargoitalia.com
www.jadecargo.com
Logistik express Redaktion Ursula Schmeling