Asian air cargo in a rut: despite all issues, freighter fleet flat but finally starting to decrease
The definition of insanity is repeating the same action but expecting a different result. This is where Asia's airlines partially find themselves about air freight, one unifying - albeit pessimistic - theme across the region. The freighter fleet at Asia's major airlines is largely unchanged at 135 aircraft, down from 2012's peak of 148 aircraft but up from the 133 in 2006. Korean Air, China Eastern and Cathay Pacific have made the largest net additions while EVA Air and Singapore Airlines are alone in making net decreases.
Some airlines have made changes to beat the odds on insanity. Older and inefficient aircraft like the MD-11 and 747-400 BCF have been replaced by newer models such as the 747-8F and 777-200F. Although welcome, these efforts alone cannot sustain the industry. The sheer aircraft numbers mask lowered productivity, generally weakened load factors and yields, competition from outside the region and growing bellyhold capacity. Of eight airlines studied, four had lower freight capacity in 2013 than 2012.
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