Air cargo has got off to a weak start in 2019 due to fewer exports on the back of slowing demand for foreign goods, the Association of Asia Pacific Airlines (AAPA) reports.
Demand in freight tonne kilometres was down 3.8% in January to 5.7 billion due to slower growth in major economies and unresolved trade tensions.
Capacity measured in available freight tonne kilometres increased 2.8% to 10.1 billion, pushing load factors down 3.9 percentage points to 56.6%.
Andrew Herdman, director general of AAPA says: “Expected increases in air cargo shipments were absent, as evidenced in the decline in air cargo volumes.”
He adds: “Underlying global economic conditions remain relatively firm, with major economies leaning towards more accommodative policies to support demand. The region’s airlines are closely monitoring developments and potential changes in operating conditions, whilst carefully managing costs with the aim of sustaining profitability.”