The Association of Asia Pacific Airlines said air cargo demand, measured in freight tonne kilometers (FTKs), took a 2.4 percent dive in November 2015, due to the slowing of manufacturing in China, which dampened international trade. After taking into account a 1.8 percent expansion in offered freight capacity, the average international load factor for Asian carriers fell by 2.9 percent to 65.7 percent for the month.
“Growth in air cargo demand narrowed to a 1.8 percent increase for the first 11 months of the year, dampened by the general slowdown in global trade,” said Andrew Herdman, AAPA’s director general. “The air cargo business is suffering from the effects of market weakness in major trading economies, signs of inventory overhang and excess capacity.”
This news comes on the heels of the Jan. 4 stock market plunge, which pushed the Dow below 17,000 and caused the S&P 500 and Nasdaq to fall by 1.3 percent and 1.4 percent, respectively. Declines were so steep in mainland China that trading was halted at one point. Market Watch analysts said China’s disappointing manufacturing data was one of several factors that could be attributed to the sell-off.
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