Lufthansa Cargo Doesn't See Drastic Decline In Air Cargo
28 September 2011 - 1:22AM
Dow Jones News
Lufthansa Cargo, the logistics unit of Deutsche Lufthansa AG
(LHA.XE), said Tuesday it doesn't expect a dramatic decline in air
freight in fourth-quarter 2011, although shipments will likely fall
partly due to strong growth in the prior-year period.
Lufthansa Cargo spokesman Nils Haupt said Asian air freight is
showing some weakness at present given that exports from China have
shown the first signs of a slowdown.
However, German exports are still providing solid support for
air freight shipments to Asia and elsewhere, Haupt said.
He added that the expected decline in air cargo shipments in the
fourth quarter is related to strong growth rates in the prior-year
period when the global economy was buzzing.
Additionally, cargo carriers have more capacity in the market
than in the fourth quarter of 2010, he said.
The comments come after Cathay Pacific Airways Ltd.'s (0293.HK)
Chief Operating Officer Ivan Chu earlier Tuesday said he expects to
see double-digit declines in Asia's total air cargo volume this
year, dragged down by a decline in trade amid a slowdown in the
global economy.
-By Kirsten Bienk and Jan Hromadko, Dow Jones Newswires; +49 69
29 725 503; kirsten.bienk@dowjones.com;
jan.hromadko@dowjones.com
(Joanne Chiu in Hong Kong contributed to this article.)
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