ASIA PACIFIC cargo carriers saw international air freight markets weaken further in January, with demand dropping 3
ASIA PACIFIC cargo carriers saw international air freight markets weaken further in January, with demand dropping 3.8 per cent year-on-year, as measured by freight tonne kilometres (FTK), according to data released by the Association of Asia Pacific Airlines (PA). PA attributed the decline in international air freight volumes to 'global new export orders contracting on the back of slowing demand for foreign goods.'
PA said: 'Concerns over slower growth in major economies and unresolved trade tensions are affecting air cargo demand.
'Meanwhile, the expansion in offered freight capacity continued to outpace demand growth, with January's 2.8 per cent increase in offered freight capacity resulting in a 3.9 percentage point decline in the average international freight load factor to 56.6 per cent for the month,' London's Air Cargo News quoted the association as saying.
In the run-up to the Chinese New Year, PA director general Andrew Herdman observed: 'Expected increases in air cargo shipments were absent, as evidenced in the decline in air cargo volumes.'
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