MALAYSIA: May largest cargo drop since August ’09

Cargo traffic carried by Asia-Pacific airlines fell at the steepest rate in nearly two years in May, sliding 9.8 per cent as carriers moved to reduce capacity for the first time since the end of the global recession.


August Malaysia May


Cargo traffic carried by Asia-Pacific airlines fell at the steepest rate in nearly two years in May, sliding 9.8 per cent as carriers moved to reduce capacity for the first time since the end of the global recession.

The year-over-year decline was the third the Association of Asia-Pacific Airlines has measured in the past four months and saw freight traffic for the Asian carriers down 2.4 per cent in the first five months of 2011 from the same period last year.

Despite a 4.7 per cent reduction in freight capacity, the average international freight load factor fell by 3.9 percentage points to 68.8 per cent in May.

While AAPA had previously attributed earlier indications of slowing air freight markets from Asia this year largely to the result of the March 11 earthquake and tsunami in Japan which unsettled regional and inter-continental cargo movements, it now says the continued slowdown is a result of moderating economic growth.

“The decline in international air cargo traffic reported for May this year reflects some moderation in the pace of global economic growth, affecting Asian exports, especially when compared to the very strong rebound in demand seen last year,” Andrew Herdman, AAPA director general said. “However, we may see volumes pick up again in the traditionally stronger second half of the year.”