Economic Slump Slows Asia-Pacific Airfreight Market

Consistent with the global market slump, July airfreight volumes in the Asia-Pacific fell 4 percent from 2010 levels. The Association of Asia Pacific Airlines blames the decline on a variety of factors, including the inability to sustain last year's rebound surge and weakening markets in the U.S. and Europe.

Despite this loss, AAPA officials said July cargo rates out of the Asia-Pacific were similar to those of the previous month. Offered freight capacity also echoed June's statistics, falling 2.9 percentage points in the average international freight load factor category.

A hike in passenger traffic helped Asia-Pacific carriers offset some of the cargo losses, however. In fact, an AAPA spokesman revealed, regional airlines transported 17.4 million international passengers in July, a 5.2 percent increase from July 2010.

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