Figures released by the Association of Asia Pacific Airlines (AAPA) yesterday (January 26) show that international air freight markets weakened in 2011 after the strong rebound the previous year.
Asia Pacific international air cargo demand, expressed in freight tonne kilometres (FTK), fell by 4.8 per cent in 2011 – a reflection of weakening world trade conditions, said AAPA.
Offered freight capacity matched that of the previous year, leading to a 3.4 per cent decline in the average international freight load factor, to 66.6 per cent.
Andrew Herdman, AAPA’s director general, said: “The year saw air cargo demand weaken significantly, compared with the restocking surge experienced in 2010, reflecting cautious management of supply chain inventories in the expectation of relatively weaker growth prospects for the major developed economies.”
Looking ahead, he added: “Uncertainty over prospects for the global economy in 2012 has somewhat overshadowed the immediate outlook, and airlines worldwide are bracing themselves for another challenging year ahead.
“Overall, however, Asian airlines still remain optimistic about longer-term growth prospects, as evidenced by ambitious fleet plans, ongoing service enhancements, and the launch of innovative new business ventures.'
No comments yet