Asia-Pacific air cargo May volume off 5.3pc, declining 5pc year to date

ASIA PACIFIC air cargo volumes declined 5.3 per cent in May year on year, reported the Association of Asia Pacific Airlines (AAPA).

AAPA statistics showed that year to day cargo volume had also declined five per cent in January to May year on year.

Air freight carriers in the region reduced capacity three per cent in May but demand did not match capacity cuts, leading to an average load factor of 66.6 per cent, a 1.6 per cent year-on-year drop on international cargo routes in the region.

But May's figures were better than April's, which showed volumes falling 7.6 per cent year on year in the Asia-Pacific. Freight load factor also improved slightly from a month-to-month perspective, with Asia-Pacific cargo carriers reporting a 0.3 per cent increase in average cargo load factor from April to May.

AAPA director general Andrew Herdman said he had "real concerns about the eurozone, and further evidence of slowing growth, spreading to the major developing economies."

Passenger volumes in the Asia-Pacific continue to rise with an 8.9 per cent increase in May year on year. Capacity matched demand, which resulted in an average load factor of 73.7 per cent, according to AAPA data.