Global cargo demand contracted 8 percent YoY (-9.9 percent for international operations) but grew 3.7 percent over the previous month in September, whilst global capacity shrank 25.2 percent YoY (28 percent for international operations), data from IATA showed. The shrink in capacity was three times larger than the contraction in demand, indicating a severe lack of capacity in the market, the trade group noted. Also read: Capacity crunch stalls air cargo demand in August Despite adding … [Read more...] about IATA: Air cargo on recovery path, down 8 percent in September
ANALYSIS
Several Asia Pacific carriers face existential threat, AAPA says
AAPA Director General Mr. Subhas Menon in a statement said several Asia Pacific carriers may face an existential threat unless they get recapitalisation or fund injections. Although he did not state or pinpoint which airlines are affected. September figures released by AAPA showed “markedly depressed levels” for passenger and cargo demand year on year, and the trade association sees “no recovery in sight.” AAPA noted that although manufacturing conditions further improved globally, some … [Read more...] about Several Asia Pacific carriers face existential threat, AAPA says
Hong Kong still busiest air cargo hub as virus depletes H1 volume
Hong Kong International Airport retained its position as the world’s busiest air cargo hub, despite seeing cargo volume drop 10.6 percent compared to the first half of last year, data from Airports Council International (ACI World) revealed. The top three spots showed no change from 2018, as Memphis (MEM; home hub of FedEx) and Shanghai (PVG) followed Hong Kong (HKG) to take the second and third spots, respectively. Louisville (SDF; hub for UPS) moved up three places to no. 4, whilst … [Read more...] about Hong Kong still busiest air cargo hub as virus depletes H1 volume
Women in logistics score higher than male counterparts: survey
Research reveals that, despite making up only 13 percent of senior leadership in logistics, women scored higher on 6 out of 7 leadership competencies over their male counterparts, a survey by organisational development company Novosensus revealed. These competencies include being empathetic, giving clearer direction and more constructive feedback, being more trustworthy, and enabling their people to feel confident. “Gender equality is a strategic business issue, not a … [Read more...] about Women in logistics score higher than male counterparts: survey
Global air cargo market continues uptrend in September
A record dynamic loadfactor and high airfreight rates on the world’s premier trade lanes in September showed the global air cargo market edging towards a sustainable recovery at the start of the traditional peak season, say leading industry analysts CLIVE Data Services and TAC Index. Chargeable weight in September rose 9 percentage points over last month, further narrowing the year-on-year gap to –15 percent. This is the fifth consecutive month of positive indicators since April 2020’s … [Read more...] about Global air cargo market continues uptrend in September
Global air cargo’s steady rally continues in August
Global air cargo was in its fourth straight month of growth in August as load factors jumped eight percentage points year on year, data from CLIVE Data Services and TAC Index showed. The whole month’s volume was down 17 percent from a year ago which was a far cry from the 41 percent decline seen in April, when demand started to rally. Air cargo volumes in the last week of August were four percent less than what were seen for the same period in 2019, putting off previous concerns of … [Read more...] about Global air cargo’s steady rally continues in August
