Air freight demand in Asia-Pacific falls 5.2pc
Published on: Friday, May 06, 2016
Kuala Lumpur: Asia-Pacific carriers saw a 5.2 per cent drop in demand in March 2016 as compared with the same month last year. The International Air Transport Association (IATA), in a statement said overall demand was weak with export volumes from emerging Asian economies having contracted in annual terms for 11 of the past 12 months.Director General and Chief Executive Officer Tony Tyler stressed that this is shaping up to be another tough year for air cargo, of which February 2016 world trade volumes, were only 0.4 per cent higher than at the end of 2014.
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"The expectations of purchasing managers gives little optimism for an early uptick. The combination of fierce competition, capacity increases and stagnant demand makes this a very difficult environment in which to generate profits," he added.In its report, IATA said demand growth data for global air freight markets for March showed a 2.0 per cent drop in volume measured in freight tonne kilometers (FTKs), compared to the same period last year. In contrast, freight capacity (measured in available freight tonne kilometers or AFTKs) rose by 6.9 per cent, putting increased pressure on already struggling yields.Stay up-to-date by following Daily Express’s Telegram channel.
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The most significant fall in demand was reported by carriers in Asia-Pacific and North America, whereas these two markets accounted for around 60 per cent of global freight traffic. – Bernama
