International air freight demand fell by 13.7 percent in January compared to the same month last year, a result of the earlier arrival of the Lunar New Year holidays this year, according to traffic figures from the Association of Asia Pacific Airlines (AAPA).
The figures reflected “the persistently weak trading environment and the closure of manufacturing plants due to the holidays,” Malaysia-based AAPA said in a February 22 statement.
Even with a 5.3 percent reduction in offered freight capacity, the average international cargo load factor fell by 5.7 percentage points to 59.6 percent.
“The slump in air cargo demand mainly reflects the earlier timing of the Lunar New Year holidays this year, but is nevertheless also a reminder of the still uncertain outlook for the global economy in the year ahead,” said Andrew Herdman, AAPA director general.
Herdman added, “With Europe sliding into recession, we expect this to be another challenging year for the industry, but remain guardedly optimistic given some tentative signs of recovery in the US and continuing positive momentum here in Asia.”
Photo by Timitrius
