Asia Pacific air cargo down

Asia-Pacific carriers continue to see weakness in air freight demand according to the latest data from International Air Transport Association released Wednesday.
Overall, IATA reported cargo growth stabilising in September following recent months of slow but steady growth.
Freight Tonne Kilometres (FTK) grew by 0.5% year-on-year. While this is slower that the 3.4% growth recorded for August, overall air cargo volumes are at a 25-month high suggesting improved business conditions.
FTKs for Asian airlines fell 3.1% in September compared to a year ago, deepening the contraction so far this year to 2.1%. A positive sign for the future is that the pressure from regional economic weakness appears to be easing.
In particular, China’s GDP growth has picked up slightly. Capacity grew 1.3% leaving load factors at 55.5%.
Carriers in the Middle East reported a 9.9% growth.
“The story behind September’s performance is regional. The levelling-off of global volumes was a result of the growth rate in Europe and the Middle East moderating after recent acceleration, while Asia-Pacific airlines saw a deepening of the market weakness,” said IATA’s director general and CEO Tony Tyler.
“At a global level, the September results are aligned with our expectations for an improvement towards the end of the year. All indicators still point to strengthening business confidence as we approach the final quarter. That’s cause for cautious optimism. But the persistent cargo weakness when compared to the strength of passenger markets is a signal for the industry to work at improving its value proposition with programmes such as e-freight,” Tyler said.

Sourced: ttrweekly