Japanese carrier JAL today reported a 56% decline in cargo revenue for its first quarter, ending 30 June.
Cargo demand, in terms of revenue cargo tonne-km, was down 31.1% against last year, despite "a slight respite in the decline of cargo shipments to and from China".
This decline reflected cuts in capacity by the airline "and also the continuous effects of the financial crisis that is still limiting import and export demand".
Lower fuel surcharges, "fierce competition", and the yen's appreciation drove cargo yields for the quarter down 36.4% year-on-year, despite "intense sales promotion activities", expansion of the carrier's J Products line of services, and an increase in the ratio of short-haul routes that the airline said had helped to prop up cargo yields.
In an attempt to match supply with demand, cargo capacity was reduced by 20.5% in comparison to the previous year.
