The world’s largest air cargo market, Asia Pacific, is showing signs of recovery with volumegrowth last month ahead of the dip caused by Chinese New Year in January, according to airlines and
airports in the region.The Association of Asia Pacific Airlines (AAPA) said that cargo showed a positive trend lastmonth, which followed weak demand in the previous few months.
International air cargo demand for the region’s airlines grew by 7.8%, measured in freight tonnekilometers (FTKs), AAPA announced. This was an improvement on February 2011 when Chinese New Yearfell during the month. The average freight load factor rose to 66.1%, with offered freight capacityup by 6%.
Over the first two months of this year, freight demand dropped 4.3% while capacity was only 0.9%lower, resulting in the average load factor declining to 63% from 65.2%.
AAPA Director General Andrew Herdman said the two-month drop in cargo traffic was “a reflectionof continued weakness in air freight markets, where surplus capacity has also been putting downwardpressure on shipping rates”.
Hong Kong International Airport saw cargo volumes soar by nearly 19% last month but this waslargely due to the Chinese New Year effect. Over the first two months of the year, volumes were2.3% lower. The decline in cargo throughput for the first two months was mainly attributable to a7% year-on-year drop in exports. Imports decreased by 2% while transshipments registered growth of2% compared to the same period last year.
Stanley Hui Hon-chung, Chief Executive Officer of the Airport Authority, said: “While it isencouraging to see the uptick in cargo volume, we must note that the gain is partly on account ofthe low base for comparison, as Chinese New Year fell in February in 2011, while this year it wasin January. Combined figures for January and February are therefore preferred indicators as theholiday factor is eliminated.” But he noted: “The decline in cargo volume is seeminglystabilising.”
Singapore’s Changi airport increased cargo volumes by 12.4% last month after a 7.1% drop inJanuary, leaving them with a small 2% rise over the first two months of the year.
In Europe, Frankfurt Airport saw freight tonnage drop 9.1% last month and by 12.9% over thefirst two months of the year, which it blamed on the effects of Chinese New Year. London Heathrowhad a 2% drop in cargo tonnage last month, leaving the two-month figure at -2.7%. Amsterdam’sSchiphol Airport generated a 5.9% rise in cargo volumes last month, which left it with a 2.9% riseover January-February 2012.
