Asia’s airlines saw a marginal contraction in cargo demand last month, but the pace of year-over-year decline showed some signs of slowing.
The Association of Asia Pacific Airlines said its members saw international air cargo demand in September, measured in freight metric ton kilometers, contract 0.4 percent year-over-year.
Andrew Herdman, director general of the airline association, said the result was an improvement on the generally negative trend seen so far in 2012. “After experiencing a 3.9 percent year-over-year volume decline for the first nine months of the year, September was a relatively good month, only marginally below last year’s figure,” he said.
Offered freight capacity by Association of Asia Pacific Airlines members was reduced 4.3 percent in September, leading to a 2.6 percentage point increase in the average international air cargo load factor to 66.6 percent.
“Overall, the operating environment for Asia-Pacific carriers remains quite challenging,” Herdman said. “Margins have been under pressure from stubbornly high oil prices, and there is continuing uncertainty about the global economic outlook, despite the fact that Asian economies are still maintaining respectable growth rates.”
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