Airlines' freight business weakens
By Winny Wang |
May 13, 2011, Friday
|
Print Edition
Print Edition
CHINA'S two largest airlines flew into some turbulence in their air cargo business in April as a slower global economic recovery battered demand for freight.
China Southern Airlines, the country's largest carrier by fleet size, carried 96,590 tons of cargo last month, an annual rise of 7.1 percent, it said in a statement on its website yesterday. The airline carried 7.3 percent more cargo in March,
Shanghai-based China Eastern Airlines, the country's second-largest carrier, flew 115,120 tons of cargo last month, an annual drop of 13.28 percent, it said in an e-mailed statement yesterday. Cargo carried in March fell 4.58 percent.
"The weakness in cargo demand is linked to the slower recovery of the global economy, said Li Lei, an analyst at China Securities Co.
"The economies in Europe and the United States grew explosively last year but the momentum has weakened since the beginning of this year, which slowed air cargo demand," Li said.
China Southern said yesterday the cargo market retreated in May after output of electronics manufacturers slid sharply. The Guangzhou-based carrier has signed an agreement with Chile's LAN Airlines to help carry the South American carrier's cargo between Shanghai and Los Angeles. The move may help China Southern to weather the decline.
In April, China Southern flew 6.76 million passengers, a 7 percent rise from a year earlier and after a 1.3-percent increase in March.
China Eastern carried 5.88 million passengers last month, an annual jump of 15.52 percent, against a 6.75 percent increase in March.
The International Air Transport Association forecast weak profit for global airlines in the second quarter.
China Southern Airlines, the country's largest carrier by fleet size, carried 96,590 tons of cargo last month, an annual rise of 7.1 percent, it said in a statement on its website yesterday. The airline carried 7.3 percent more cargo in March,
Shanghai-based China Eastern Airlines, the country's second-largest carrier, flew 115,120 tons of cargo last month, an annual drop of 13.28 percent, it said in an e-mailed statement yesterday. Cargo carried in March fell 4.58 percent.
"The weakness in cargo demand is linked to the slower recovery of the global economy, said Li Lei, an analyst at China Securities Co.
"The economies in Europe and the United States grew explosively last year but the momentum has weakened since the beginning of this year, which slowed air cargo demand," Li said.
China Southern said yesterday the cargo market retreated in May after output of electronics manufacturers slid sharply. The Guangzhou-based carrier has signed an agreement with Chile's LAN Airlines to help carry the South American carrier's cargo between Shanghai and Los Angeles. The move may help China Southern to weather the decline.
In April, China Southern flew 6.76 million passengers, a 7 percent rise from a year earlier and after a 1.3-percent increase in March.
China Eastern carried 5.88 million passengers last month, an annual jump of 15.52 percent, against a 6.75 percent increase in March.
The International Air Transport Association forecast weak profit for global airlines in the second quarter.
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