QUIET APRIL FOR CII
Airfreight volumes still continue to decline with some trade lanes in free fall. Cathay Pacific has announced it is reducing freighter capacity by 11% and many other combination carriers will follow suit. The other day I found in a drawer the 2005 Boeing report on airfreight trends. 2009 was all about double digit growth with most of it being Chinese exports. Little wonder Cathay Pacific built their fleet based upon the predictions of the experts, viz. Boeing. Now let’s be frank here, in the past the more Boeing was upbeat about the global economy, the greater the chance of selling more planes. They had a vested interest in telling the world of the bright future of travel and air cargo. I wonder with all the aircraft order cancelations now taking place that their move to become “reputable” forecasters of the world economy might come back to bite them in the bum! I believe that business is about keeping to your knitting and maybe in future Boeing you should leave things outside your sphere to the real experts. That is what we do at CII; mind our own business. Over sixteen years nothing much has changed. As it has always been, over 80% of our activity is export wholesale airfreight to the South Pacific. At least we’re still in business!
April appears to be a little quieter for us than March was, but sometimes when there is a lull like we are currently experiencing, without warning, bookings can take a leap for the better. One thing when inventories are reduced to meet the adjusted levels of demand it can lead to out of stock situations. That being the case, airfreight is the beneficiary over all other modes. The CII team is therefore optimistically awaiting the upturn.
As you are aware we were successful in being chosen by TSA for their pilot security program. No doubt you have already received flyers advising you of the benefits of supporting us. If you have any questions, the CII team is here to be of service.
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