JOC Staff | Nov 13, 2012 8:41AM EST
Lufthansa Cargo carried 9.4 percent less freight in October than a year ago as the German all-cargo carrier slashed capacity in line with weakening demand on its key long-haul routes.
The decline to 150,000 tons left traffic for the first 10 months down 8.9 percent from the same period in 2011, at 1.44 million metric tons.
Cargo revenue shrank 10.1 percent as capacity was cut by 10.9 percent with 13 percent fewer flights than a year ago. The load factor improved by 0.6 percentage points to 69.5 percent.
The Lufthansa Group, which includes SwissCargo, reported freight volume down 7.6 percent at 171,000 tons, for a 10-month total of 1.64 million tons, down 7.3 percent on the same period in 2011.
The North and South America network was hardest hit, with traffic declining 12.7 percent to 50,000 tons, and Asia-Pacific region volume was 7.6 percent lower at 46,000 tons. The previously resilient Middle East/Africa market also retreated, with traffic dipping 2.8 percent to 17,000 tons.
Competitor Air France-KLM reported October cargo traffic fell 6.7 percent, while British Airways carried 4 percent more freight than a year ago.
