Back to a more "normal" load factor?
Market analyses by Clive Data Services for February show that conducting a basic year-on-year comparison of airfreight volumes would have produced a decline of close to 2%. However, adjusting the analyses for the early Chinese New Year (-3%) and the Leap Year, with an extra day over February 2019 (-4%), takes the overall decline to close to -9%.
Looking in further detail at the Hong Kong market, monthly data reveals the return to a more "normal" dynamic load factor picture.
Volumes out of Hong Kong are still 30% below their level post Chinese New Year and 23% less than in the same week of last year, but on a more positive note, the step-by-step growth in chargeable weight does indicate that Chinese demand for cargo capacity is showing the early signs of shifting gear. (ah)