Air cargo operators fly into turbulence; Asia-Pac a drag on global numbers
Trade war contributes to 7% year-to-date slide in Asia-Pac volumes; SIA, Cathay Pacific expected to be harder hit than regional peers
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Singapore
THE slowing global economy and US-China trade war are weighing on Asia Pacific's air cargo market, with carriers such as Cathay Pacific and Singapore Airlines (SIA) expected to be harder hit owing to their exposure to their individual export hubs.
According to the latest figures from the International Air Transport Association (Iata), the Asia-Pacific suffered a 4.9 per cent decline in cargo traffic in July and a 7.1 per cent fall year-to-date. In particular, the US-China trade war and weaker manufacturing conditions for exporters in the region have significantly affected the market, Iata said.
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