International air cargo markets remained weak, as traffic fell by 4.5 percent in March 2012 compared to the same month last year—a reflection of lackluster export-import markets, according to the latest statistics from the Association of Asia Pacific Airlines (AAPA).
Offered freight capacity contracted by 4.1 percent, resulting in a marginal 0.2 percentage point fall in the average international air cargo load factor for the region’s carriers to 69.3 percent for the month, the trade organization said in a recent statement.
“International air cargo traffic for the first quarter fell by 4.1 percent year-on-year, reflecting a soft market and lingering concerns over weakening consumer demand, particularly in Europe,” said Andrew Herdman, AAPA director general.
He said the global outlook is still overshadowed by the potentially dampening effects of stubbornly high oil prices, and poor growth prospects in Europe, but Asian economies are still delivering robust growth.
“Nevertheless, airline margins remain under pressure from high fuel costs, focusing attention on further efforts to tightly control costs and carefully match capacity to market demand,” he added.
Photo: d’n’c
