Wednesday, October 30, 2019

Air cargo firms hit by economic, global trade slowdown; Aug freight down 5%

New Delhi: Economic slowdown and softening of global trade continue to hit air cargo firms with the latest official data showing 5.3 per cent decline in freight traffic in August on a year-on-year basis.

Many of the shippers are facing cancellation of orders and buyers are insisting for discounts.
"New buyers are not coming. The existing buyers at times insist for discounts citing delays. The global slowdown has impacted India as well," said Afzal Malbarwala, Vice President, Galaxy Freight Pvt Ltd.

As per the monthly data released by Airports Authority of India (AAI), all the airports in the country handled 2,88,532 tonnes of freight in August, down 5.3 per cent compared to 3,04,716 reported in the same month a year ago.

On a cumulative basis, all airports in the country handled 142.27 million passengers and 1,423.74 thousand tonnes of freight during the April-August period of 2019-20.

Key items transported by air include high-value goods such as gems and jewellery, medicines, electronic goods and readymade garments. Perishable items such as fruits and vegetables were also carried by the airlines.
29/10/19 IANS/Business Standard
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