Mike King, Special Correspondent | May 24, 2012 9:10AM EDT
Singapore’s Changi Airport saw freight volume decline by 4.9 percent in April compared to a year earlier, despite aircraft movements increasing by 8.8 percent.
Last month 148,200 tonnes of cargo was handled at Changi, the world’s 11th largest cargo airport by tonnage in 2011, as exports fell 9 percent compared to April 2011.
Changi’s volume was also hit after home carrier Singapore Airlines cut freight capacity by 20 percent earlier this year due to weak demand. The airline said poor cargo returns had contributed to its 69 percent profit slump in the year ended March 31.
“The recovery of air freight demand will be gradual, possibly only in the second half of the year,” said the airline. “Cargo yields are likely to remain stagnant for the next quarter.”
On a rolling 12-month basis, Changi handled 1.86 million tonnes of cargo through April, representing year-over-year growth of 1.3 percent.
Contact Mike King at michael@borderline.eu.com.