International air cargo demand continued its slow but steady growth with Asia Pacific airlines’ October traffic just 2.4 percent below the levels recorded during the same period one year ago – the smallest shortfall so far this year.
The Association of Pacific Airlines reported this week that the average international cargo load factor in October rose by 4.2 percent to 69.1 percent as carriers reduced capacity by 8.3 percent.
The group representing major airlines in the Asia-Pacific region said its members carried 4,366 million freight tonne kilometers in October, down from 4,474 in October 2008.
For the 10 months of this year, member airlines have experienced a 16.5 percent decline in air cargo traffic, according to AAPA.
Andrew Herdman, AAPA Director General, said, “Airlines have been aggressively cutting costs but revenues have fallen more sharply. As a result, Asian airlines as a group are expected to record another year of heavy losses, on top of the $4.8 billion of losses suffered in 2008.
AirCargo World
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