Major regional economies including China, India and Japan have experienced continued weakness in export-import activities, which has hindered the air cargo market.
Preliminary figures from the Association of Asia Pacific Airlines reveal member airlines moved 5.61 million freight ton kilometers of cargo in October on international scheduled services, a 0.7 percent decline from October 2014.
Major regional economies including China, India and Japan have experienced continued weakness in export-import activities, which hindered demand for air cargo shipments in October, according to AAPA.
Offered freight capacity on international scheduled services by member airlines rose 2.7 percent year-over-year in October to 8.74 million available freight ton kilometers.
The average international freight load factor for the month stood at 64.2 percent, down 2.2 percentage points from Oct. 2014.
“For the January-October period, air cargo demand grew by 2.2 percent, held back by lackluster global trade conditions that continue to dampen Asian air cargo markets,” Association of Asia Pacific Airlines Director General Andrew Herdman said in a statement. “Air cargo markets are expected to remain soft, given weak global trade conditions.”
The Association of Asia Pacific Airlines is the trade association for scheduled international airlines based in the Asia-Pacific region, which represent two-fifths of global air cargo traffic.
Its members include Air Astana, All Nippon Airways, Asiana Airlines, Bangkok Airways, Cathay Pacific Airways, China Airlines, Dragonair, EVA Airways, Garuda Indonesia, Japan Airlines, Korean Air, Malaysia Airlines, Philippine Airlines, Royal Brunei Airlines, Singapore Airlines and Thai Airways International.
Asian airlines see freight volumes decline in October
