Cargo traffic for Asia-Pacific airlines fell 5.8 percent in August as carriers pulled back freight capacity even as the industry’s peak shipping season neared.
The Association of Asia-Pacific Airlines said carriers reduced capacity 1.3 percent compared to August 2010 and cut back freight space 2 percent from July to August.
The drop in freight traffic marked the sixth time in the past seven months cargo business has declined year-over-year, but a 5.5 percent sequential slide from July to August may have been more significant for the airlines.
Manufacturing measures in Asia have been slipping and factories in China are seeing a orders weaken as economies in Europe and North America falter. Retailers are reported to be keeping inventory levels tight to reduce risks during the holiday selling season.
For the first eight months of 2011, freight traffic for Asia-Pacific airlines was down 3.8 percent from the same period a year ago while freight capacity was up 1.1 percent.