Asia-Pacific (Apac) carriers saw passenger traffic shrink by 9.7 per cent and freight traffic fall by 16.9 per cent in November due to lower consumer confidence, according to the International Air Transport Association.
Airlines in the Asia-Pacific region face the most difficult operating environment with the steep drop in passenger traffic in November, after a 6.1 per cent contraction in October, the Association said in its analysis on passenger and freight traffic across the globe.
"While Chinese domestic traffic rebounded after the Olympics, travel to and from international markets continue to decline, reflecting the weakness in both global trade and consumer confidence," IATA said.
The carriers in the Apac region, which represent about 45 per cent of the global freight capacity, saw the largest decline than any other geographical area in terms of freight traffic.
"As freight accounts for a larger percentage of revenues for the Apac carriers, fourth quarter profits for the region's carriers will be disproportionately (and negatively) impacted by the downturn in the global air freight market," IATA said.
The total international passenger traffic dropped by 4.6 per cent, while the global freight traffic declined by 13.5 per cent in November.
