Asia-Pacific airlines encountered weaker market conditions last year that led to a more than 3 percent drop in international air cargo volume compared to 2011, according to traffic figures culled from 25 regional carriers by the Association of Asia Pacific Airlines (AAPA).
Global cargo demand declined by 3.4 percent in 2012 to 59,435 freight tonne kilometers (FTK) compared to the previous year—a result of the continued weakness in global trading conditions, AAPA said in a statement. Freight capacity fell by 3.2 percent to 89,325 FTK, leading to a marginal 0.2 percentage points decline in the average international freight load factor, to 66.5 percent for the year.
“Air cargo demand remained depressed for most of the year, only showing some signs of stabilizing towards year end,” said Andrew Herdman, AAPA director general.
But Herdman said they are hopeful about 2013 despite fragile consumer confidence in developed Western markets because of the continuing global economic recovery, primarily due to the sustained growth in Asian and other developing markets.