Air cargo market slows

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Luisa Cheshire

BY LUISA CHESHIRE

Air cargo market slows

The outlook for the international air cargo market is uncertain as global trade slows, say experts

Air cargo market slows

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The weak global market is taking its toll on airlines, according to the Journal of Commerce (JOC.com).

Cathay Pacific told the journal that its June tonnage growth fell well short of the increase in capacity, and that its business had softened since the US West Coast port disruptions ended.

Meanwhile, Lufthansa Cargo’s five-year winning streak ended in the second quarter when it slumped to a euro74.8m operating loss from a euro22m profit a year ago, JOC.com said. At the same time, IAG Cargo reported lower traffic and flat load factors, and Air France-KLM’s cargo business sank deeper into the red in the second quarter.

Andrew Herdman, Association of Asia Pacific Airlines (AAPA) director general, told the journal that the pace of air cargo growth has moderated during recent months.

He said the outlook for air cargo markets was uncertain and there were signs of a slowdown in global trade.

The WorldACD data showed that there was demand driving air cargo volumes, but it differed considerably from one product category to another. Of the absolute volume growth worldwide, 37.5 per cent came from pharmaceuticals and perishables only, JOC.com said.

The growth in perishables was largest to Middle East-South America (+59 per cent) and Asia Pacific (+35 per cent). Perishables transport to Europe and North America lagged behind with growth figures of around 15 per cent only.

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