Freight carried by Asian airlines in January fell 13.7 percent year-over-year, signaling another challenging year for carriers as European demand wanes, according to the Association of Asia Pacific Airlines.
The average international cargo load factor fell by 5.7 percentage points to 59.6 percent despite a 5.3 percent cut in offered capacity, according to preliminary APA traffic figures.
Andrew Herdman, AAPA Director General, said the ongoing slump in demand was a reflection of the early timing of the Lunar New Year holidays this year, in which Asian factory production slowed, and the still uncertain outlook for the global economy.
“With Europe sliding into recession, we expect this to be another challenging year for the industry, but remain guardedly optimistic given some tentative signs of recovery in the U.S. and continuing positive momentum here in Asia,” he said.
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