China's Golden Week impact weaker than last year
Air freight fgures for week 40 (2-8 October 2023) show a 5% drop in tonnages, compared with week 39, while rates decreased by 3%, based on the +400,000 weekly transactions covered by World ACD’s data. But the week-on-week (WoW) drop was less pronounced than during last year's holiday shutdown (-9%), when it was skewed by a 47% drop in outbound tonnages from China, compared with a 21% WoW decline this year.
Comparing weeks 39 and 40 with the preceding two weeks (2Wo2W), overall tonnages decreased by 2% versus their combined total in weeks 37 and 38, while worldwide rates went up by 2% and capacity down by 1%.
Decreases in tonnages were recorded most strongly on flows inbound to Asia Pacific from, respectively, Middle East & South Asia (-9%), Europe (-8%), North America (-6%) and intra-Asia Pacific (-8%). (ah)