Asian air cargo suffers 4.8pc decline, little hope of improvement in 2012
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Asian air freight demand fell 4.8 per cent in 2011 year on year, reflecting weak worldwide economic conditions according to the Association of Asia Pacific Airlines (AAPA).
But passenger numbers held up well in the Asia-Pacific region in 2011, increasing 3.5 per cent year on year with a 6.3 per cent increase in capacity. Air cargo capacity did not change.
"Air cargo demand weakened significantly compared to the restocking surge experienced in 2010, reflecting cautious management of supply-chain inventories in the expectation of weaker growth prospects for the major developed economies," said AAPA director general Andrew Herdman.
Despite the gloom Mr Herdman said the industry mood was buoyant. "Asian airlines still remain optimistic about longer-term growth prospects, as evidenced by ambitious fleet plans, ongoing service enhancements, and the launch of innovative new business ventures," he said.
IATA officials shared Herdman's view of this year's prospects, projecting that the global aviation sector will make a profit of $3.5 billion during the year; this is nearly half of IATA's estimated profit for 2011.
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