CHINA'S ECONOMIC slowdown has dampened air-freight demand throughout Asia and the Pacific as regional carriers' business volume in June contracted 1.8 per cent year on year, according to the International Air Transport Association (IATA).
In the first half, volume dropped 2.3 per cent.
To the organisation representing some 240 airlines comprising 84 per cent of global air traffic, this is the weakest performance among the regions and reflects the broad impact of the slowing growth of Chinese gross domestic product.
There are now fears that China will not achieve its 7.5-per-cent growth target this year, which may disrupt the global economic recovery. The Thai National Shippers Council forecasts only a 2-per-cent increase in the country's shipments to China this year.
Elsewhere in the world, only airlines in North America suffered from contraction - 1.2 per cent in June and 1.6 per cent in the first half.
European carriers grew freight volumes by 2.6 per cent in June. Though in recession, the euro zone showed some signs of stability. For example, manufacturing activity contracted at its slowest pace in 16 months, easing pressure on key economies such as Italy, Spain and France. An improvement in consumer confidence is also likely to support demand for the sale of lightweight, high-value goods that are typically shipped by air.
While African airlines recorded relatively slower growth in June, up 2.4 per cent, Latin American airlines experienced a 7-per-cent increase. Middle Eastern airlines saw the biggest growth of demand, with freight volumes up by 12.7 per cent. The consistent high growth of airlines based in the Middle East in recent years is the result of their ability to take advantage of their geographical position.
In June, global air-freight demand expanded 1.2 per cent, higher than the 0.9-per-cent increase in May and the 0.1-per-cent growth in the first half.
While the global economic trend had been defined by robust emerging economies and stagnant growth in developed markets, the strongest improvements in business confidence are now occurring in some developed economies. Neverthe-less, overall business confidence, which is a key indicator for air freight, continues to be weak.
"It's too early to tell if June was a positive turning point after 18 months of stagnation," Tony Tyler, director-general and chief executive of IATA, said yesterday. "Air-freight volumes are at their highest since mid-2011, but that good news needs to be tempered with a dose of reality.
"The global economic environment remains weak, and the basis for the acceleration of air-cargo growth in June appears to be fragile."
Last month IATA released the July edition of its Airline Business Confidence Index, which showed nearly 58 per cent of respondents expecting freight volumes to increase over the next year. Despite this, 72.2 per cent expect no change in weak cargo yields despite their expected increase in demand over the same period.
To the organisation representing some 240 airlines comprising 84 per cent of global air traffic, this is the weakest performance among the regions and reflects the broad impact of the slowing growth of Chinese gross domestic product.
There are now fears that China will not achieve its 7.5-per-cent growth target this year, which may disrupt the global economic recovery. The Thai National Shippers Council forecasts only a 2-per-cent increase in the country's shipments to China this year.
Elsewhere in the world, only airlines in North America suffered from contraction - 1.2 per cent in June and 1.6 per cent in the first half.
European carriers grew freight volumes by 2.6 per cent in June. Though in recession, the euro zone showed some signs of stability. For example, manufacturing activity contracted at its slowest pace in 16 months, easing pressure on key economies such as Italy, Spain and France. An improvement in consumer confidence is also likely to support demand for the sale of lightweight, high-value goods that are typically shipped by air.
While African airlines recorded relatively slower growth in June, up 2.4 per cent, Latin American airlines experienced a 7-per-cent increase. Middle Eastern airlines saw the biggest growth of demand, with freight volumes up by 12.7 per cent. The consistent high growth of airlines based in the Middle East in recent years is the result of their ability to take advantage of their geographical position.
In June, global air-freight demand expanded 1.2 per cent, higher than the 0.9-per-cent increase in May and the 0.1-per-cent growth in the first half.
While the global economic trend had been defined by robust emerging economies and stagnant growth in developed markets, the strongest improvements in business confidence are now occurring in some developed economies. Neverthe-less, overall business confidence, which is a key indicator for air freight, continues to be weak.
"It's too early to tell if June was a positive turning point after 18 months of stagnation," Tony Tyler, director-general and chief executive of IATA, said yesterday. "Air-freight volumes are at their highest since mid-2011, but that good news needs to be tempered with a dose of reality.
"The global economic environment remains weak, and the basis for the acceleration of air-cargo growth in June appears to be fragile."
Last month IATA released the July edition of its Airline Business Confidence Index, which showed nearly 58 per cent of respondents expecting freight volumes to increase over the next year. Despite this, 72.2 per cent expect no change in weak cargo yields despite their expected increase in demand over the same period.
Source: http://www.nationmultimedia.com/business/Slow-growth-in-China-hits-Asia-Pacific-air-freight-30211599.html
.jpg)
0 comments:
Post a Comment