Nov 8, 2012
Cargo isn’t recovering just as yet, says Andrew Herdman, Director General of the Association of Asia Pacific Airlines (AAPA) a day before the 56th Assembly of Presidents, being hosted by Malaysia Airlines in Kuala Lumpur over the next two days.
“The global economic slowdown has had a dramatic impact on air freight, which has remained depressed as a result of weak consumer confidence in Europe and the United States, with a corresponding slowdown of exports from Asia. As Asian carriers operate large freighter fleets and account for approximately 40% of global air cargo traffic, they have been particularly hard hit by the current cargo market weakness,” said Herdman.“It is difficult to see a cargo upturn.”
There is hope for the passenger business. “2012 is proving to be a pivotal year for the global air transport industry, with enterprising carriers from the Asia Pacific region at the forefront of major developments. Ground breaking deals that would have been unimaginable even a year ago are rapidly turning previous rivals into long-term strategic partners. The new competitive landscape is providing consumers with a wide variety of new travel options and adding tremendous momentum to the rise of Asian carriers in the global industry," said Herdman.