Cargo volumes slip in July

AIR FREIGHT   CARGO CARRIERS

Asia Pacific - Freight markets showed a slight decline in July compared to the same month last year, with air cargo carriers in the region continuing to perform weakly.

Air cargo volumes showed a 3.6% decline in July compared to the same month in 2010, with performance paling in comparison to passenger traffic posting a capacity increase of 5.8%.

Freight load factors have declined significantly, with Asia Pacific carriers experiencing load factors slip to 58.1% from 60.2% in July 2010.

The scale of the carriers' operations in the region allows for better capacity utilisation, despite suffering from a major imbalance with strong outward flows of manufactured goods and weak inbound traffic.

"With business and consumer confidence now tanking, sluggishness in international trade, and high fuel prices, the expectation is for a weaker end to the year. We are already seeing this in the shrinking air freight markets, which were 0.4% down on the previous year," said Tony Tyler, director general and CEO at International Air Transport Association.

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