Asia Pacific players to drive air cargo growth
The shift of global economic power eastwards is continuing, driven by the rapid development of China and India, with added momentum from other dynamic Asian economies including Indonesia, Korea, Malaysia, Philippines and Thailand
in the NewsState of Logistics 2016: Pursue mutual benefit 3PL sector sees annual revenue gains, reports Armstrong International Air Transport Association Drives New Partnership With Global Forwarders Overnite Transportation Founder J. Harwood Cochrane passes away at 103 Accraply acquires Harland Machine Systems of England More News
The reshaping of the global air cargo industry over the past 12 months has been dramatic, with enterprising Asia Pacific carriers at the forefront of developments, said Andrew Herdman, executive director, Association of Asia Pacific Airlines (AAPA).
He noted, however, that the global economic slowdown has had an 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.
But change is in the air: “The shift of global economic power eastwards is continuing, driven by the rapid development of China and India, with added momentum from other dynamic Asian economies including Indonesia, Korea, Malaysia, Philippines and Thailand,” said Herdman. “Steadily rising incomes are driving sustained growth in cargo demand, which is being met by innovative Asian airlines using a variety of business models.”
Subscribe to Logistics Management Magazine!Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your entire logistics operation.
Start your FREE subscription today!
2016 State of Logistics: Third-party logistics 2016 State of Logistics: Ocean freight View More From this Issue