Asia airfreight down in 2013
Preliminary financial performance figures released by the Association of Asia Pacific Airlines (AAPA) revealed that Asia Pacific airlines recorded USD 2.5 billion in combined net earnings in 2013, a 55% fall compared to the USD 5.6 billion reported for the year 2012. Profitability succumbed to widespread yield pressures arising from stiff market competition and lacklustre air cargo demand.
Operating revenue for the region's carriers totalled USD 171.2 billion, 2.1% less than the USD 174.9 billion achieved in 2012. With international air cargo traffic measured in freight tonne kilometres seeing a 1.2% decline, cargo revenue dropped by 4.6% to USD 20.2 billion, caused by persistently soft global trading conditions which in turn affected demand for air freighted goods manufactured in Asia.
Read more news of the Asia Pacific region in the focus of the ITJ issue 21-22 out today.