International air cargo demand, expressed in freight tonne kilometres (FTKs), declined by 5.8% year-on-year last month - a reflection, said AAPA, of overall weakness in air cargo markets.
Offered freight capacity was reduced by 6.1%, leaving the average international air cargo load factor almost unchanged at 67.4%.
Andrew Herdman, AAPA Director General, said, "Global air cargo markets are still depressed, with volumes for the first ten months of the year 4% down on last year¡¯s levels. "
"Overall, the air cargo market is characterised by weak demand and excess capacity, maintaining downward pressure on rates."
He added: "Asia Pacific airlines are still facing a very challenging operating environment, clouded by uncertainties over the global economic outlook. "
"Competitive market pressures, and the impact of persistently high fuel prices, have pushed up breakeven load factors, and are spurring further efforts to deploy newer more fuel-efficient aircraft, whilst carefully managing overall capacity." |
