Airfreight demand sinks in Nov with AAPA seeking vigilance among sector
THE Association of Asia Pacific Airlines (PA) says demand for international air cargo remained weak in November, falling 1
THE Association of Asia Pacific Airlines (PA) says demand for international air cargo remained weak in November, falling 1.9 per cent year on year.
During November, capacity for international air freight expanded by 1.2 per cent, resulting in a two percentage point decline in the air freight load factor to 62.9 per cent.
PA director general Andrew Herdman said: 'Air cargo volumes for the first 11 months of 2019 registered a 5.3 per cent decline compared to the same period in the previous year, as challenging business conditions resulting from protracted trade disputes dampened demand.'
Asian airlines were particularly vulnerable, given the region's importance in the global manufacturing supply chain.
'The outlook for air cargo demand remains overshadowed by uncertainty over the resolution of ongoing global trade disputes.'
Looking to the future, Mr Herdman added: 'The region's carriers remain vigilant in monitoring and responding to changes in market conditions, whilst seeking new growth opportunities.'