Asia Pacific airports see stabilising cargo traffic: ACI
According to data compiled by Airports Council International, air freight markets maintained growth momentum, achieving year-on-year growth of 4.2 per cent for the month of May compared to a year ago.
August 1, 2014
According to data compiled by Airports Council International, air freight markets maintained growth momentum, achieving year-on-year growth of 4.2 per cent for the month of May compared to a year ago. The improvements in world trade coupled with a recovery in global demand point to signs of a stabilised recovery in air freight markets. Europe and Asia- Pacific experienced the strongest gains as compared to the previous year with a rise of 6.6 per cent and 5.6 per cent respectively. The European air freight hubs of Amsterdam (AMS), Frankfurt (FRA) and Paris (CDG) rebounded from the woes of the Euro area crisis in 2013 to growth levels of 14.1, 7, and 5.9 per cent respectively.
The top five Asia Pacific airports with the highest cargo throughput from January to May 2014 were: Hong Kong (HKG, +6.2 per cent), Shanghai Pudong (PVG, +7.8 per cent), Seoul Incheon (ICN, +4.2 per cent), Dubai (DXB, +0.8 per cent) and Tokyo Narita (NRT, +10.3 per cent). The slowdown in cargo traffic growth in the Middle East was driven primarily by Dubai (DXB)’s temporary runway closure.
“From a long-run historical perspective, the air freight industry remains relatively sluggish since it has barely surpassed the volumes that existed in the preGreat Recession era,” said ACI World’s economics director Rafael Echevarne. “The weakness in the air freight market over the last decade is largely attributed to a loss in market share to other competing modes of freight shipment such as ocean freight. While the air freight market appears to have stabilised over the last quarter of 2013 and into 2014 in conjunction with the ongoing recovery in the global economy, the new paradigm shifts toward cheaper modes of delivery means that suppliers of air freight capacity need to rethink their business model in order to remain competitive,” Echevarne added.