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Asia-Pacific Air Cargo Carriers Face 12.1% Decrease In Demand In February

Latest Cargo Industry News, Asia Pacific air cargo carriers have seen a decline of 12.1% in their FTK for February 2016 in comparison to February 2015. FTK – Freight Tonne Kilometers or CTK – Cargo Tonne Kilometers is released by every airline carriers involved in air freight services across the globe.

Association of Asia Pacific Airlines (AAPA) released the February air cargo traffic report that detailed into the insights of the air cargo services and their rates for the entire industry of Asia Pacific. The traffic figures from the report say that all the carriers of the region are facing a sharp decline in FTK for February in comparison to the same month of the previous year. This is also caused due to decline in global trade volumes and other economical crisis faced in various countries of Asia Pacific.

If seen closely among the AAPA members it is seen that the international passenger air transportation has seen healthy growth, but the freight industry took the damages.

When asked about this to Mr. Andrew Herdman, Director General, AAPA, he said “The solid growth trend in passenger volumes seen throughout last year has been maintained, with Asian carriers reporting 9.3% growth in the number of international passengers carried in the first two months of 2016.

“However, air cargo markets are showing further declines, reflecting the slowdown in global trade and raising some deeper concerns about the future outlook for the wider global economy.”

FTK for the month of February 2016 was 4,331 tn while last year it was 4,926 tn. This is a month to month comparison, but if we compare the date for the period of January-February we see minor gap and fall in the industry. The Jan-Feb 2016 FTK was 9,458 tn while previous year for the same period it was 10,084 tn, which is 6.2% decline, almost 50% less in comparison to month-to-month data.

Mr. Andrew further said that he is seeing a positive market in the coming months of 2016, also that the impact of low oil price and growing competitive market of air freight services will be visible on the overall growth of the air cargo carriers freight services.