Asia Pacific airlines suffer 5.9pc decline in cargo demand in October
ASIA PACIFIC airlines experienced weakness in October cargo volume with demand down 5
ASIA PACIFIC airlines experienced weakness in October cargo volume with demand down 5.9 per cent year on year and falling 5.6 per cent in the first 10 months in freight tonne kilometres (FTK), reported London's Air Cargo News.
The Association of Asia Pacific Airlines (PA), in its preliminary traffic figures for the month, said that the 'slowdown in overall demand for exports continued to weigh on international trade flows'.
While FTKs declined in October, offered freight capacity increased marginally by 0.1 per cent. As a result, the average international freight load factor fell, by 3.9 percentage points to 61.9 per cent for the month.
'The first 10 months of the year saw Asian airlines carry 312 million international passengers, a 4.3 per cent increase compared to the same period last year,' said PA director general Andrew Herdman.
'On the other hand, air cargo volumes fell by 5.6 per cent, with trade tensions and geopolitical risks dampening business sentiment and export orders..
'Against a backdrop of a slowing global economy and intense competition, Asian airlines face continued pressure on margins,' said Mr Herdman.
'Nevertheless, the region's carriers remain pro-active in identifying measures to control costs in order to maintain overall profitability, and are adjusting their route networks to better match demand.'