Asian air freight down 15.5 percent in November

Member carriers of the Association of Asia Pacific Airlines reported a 15.5 percent drop in cargo volume in November, compared to the same month in 2007.

   “Even with an 8.9 percent reduction in cargo capacity, the average international cargo load factor for the month fell by almost five percentage points to 64.3 percent,” the association said.

   For the year, volume is down 4.3 percent from the first 11 months of 2007.

   “The dramatic slowdown in global economic activity in the second half of the year is now reflected in sharply weaker demand for air travel and cargo shipments,” said Andrew Herdman, AAPA Director General, in a statement.

   “The recent plunge in oil prices provides a measure of relief, but market conditions are expected to remain extremely difficult moving into 2009, forcing airlines to adopt additional cost-saving measures, including capacity cutbacks and deferral of planned capital expenditures,” he added.

   AAPA’s members include Air New Zealand, All Nippon Airways, Asiana Airlines, Cathay Pacific Airways, China Airlines, Dragonair, EVA Airways, Garuda Indonesia, Japan Airlines, Korean Air, Malaysia Airlines, Philippine Airlines, Qantas Airways, Royal Brunei Airlines, Singapore Airlines, Thai Airways International and Vietnam Airlines.

Source: American Shipper