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International air cargo demand was six percent lower in June compared to the same month last year, according to traffic figures released by the Association of Asia Pacific Airlines (AAPA).
This was a reflection of the strong recovery in 2010, and some recent moderation in demand for Asian exports. Offered freight capacity fell by just 1.5 percent, leading to a 3.1 percentage point decline in the average international freight load factor to 67.3 percent.
“International air cargo demand during the first half of the year was relatively soft, declining by 3.2 percent compared to last year’s post-recession restocking surge,” said Andrew Herdman, AAPA director general.
“Overall, the combination of lower utilisation, and other cost pressures including very high oil prices, places further downward pressure on already thin airline operating margins.”
However, Herdman said that despite the challenges, the outlook for the second half of the year remained “reasonably positive”, given the normal seasonal pattern of stronger demand for both passengers and cargo.
“Among positive indicators, it is encouraging that Japan related traffic is starting to recover and, more broadly, consumer confidence across the Asia Pacific region remains robust.
“Nevertheless, some uncertainties remain about the strength of the global economic recovery, and unresolved macro-economic imbalances, evident in ongoing currency and oil price volatility,” he warned.
Cargonews Asia
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