There was no sign of a bounce back in cargo demand for Asian carriers in August, according to the latest figures from the Association of Asia Pacific Airlines.
Asia Pacific airlines saw air freight markets “remain depressed” last month as a result of weakening consumer confidence in the major developed economies, said the AAPA.
International air cargo demand fell 4.4 percent year-over-year in August, capacity was down 4.1 percent and the average international air cargo load factor was steady at 64.6 percent.
“We are still seeing persistent weakness in air cargo markets, with Asian carriers posting a 4.4 percent decline in international air cargo demand during the first eight months of the year, with no sign of any upturn,” said Andrew Herdman, AAPA Director General.
“Notwithstanding the evident slowdown in the global economy, oil prices remain high, averaging $112 per barrel so far this year, further pressuring airline margins and industry profitability.”
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