Airlines are shifting capacity to Asia Pacific-North America as disruption from China’s forthcoming Golden Week holiday recedes, and bongdaso ìno Christmas rush starts.
According to bongdaso ìno US National Retail Federation (NRF), consumer spending for bongdaso ìno holidays is expected to grow between 2.5% and 3.5% on last year, while ecommerce is expected to grow by 8% to 9%, to up to 7.9bn.
“bongdaso ìno economy remains fundamentally healthy and continues to maintain its momentum heading into bongdaso ìno final months of bongdaso ìno year,” said NRF president and CEO Matthew Shay. “bongdaso ìno winter holidays are an important tradition to American families, and their capacity to spend will continue to be supported by a strong job market and wage growth.”
NRF did note that there would be five fewer days between Thanksgiving and Christmas than last year, and that there could be an economic impact from bongdaso ìno recent hurricanes.
But NRF chief economist Jack Kleinhenz added: “We remain optimistic about bongdaso ìno pace of economic activity and growth projected in bongdaso ìno second half of bongdaso ìno year.“Household finances are in good shape and an impetus for strong spending heading into bongdaso ìno holiday season.”
Airlines are certainly putting their capacity where bongdaso ìno money is. Last week, capacity from Asia Pacific to North America rose 6% on bongdaso ìno previous week, according to Rotate’s capacity database. To Europe, capacity was up 4%.
bongdaso ìno biggest rises were seen out of Shanghai to North America, where capacity rose 17.5% week on week, and from Hong Kong to North America, capacity rose 11.7%.
Cathay Pacific’s chief customer and commercial officer, Lavinia Lau, said today: “We expect demand to be robust during bongdaso ìno traditional peak season, driven by ecommerce, hi-tech and electronic goods from bongdaso ìno Chinese mainland, South-east Asia and India, as well as perishables from bongdaso ìno south-west Pacific and Americas.”
Cathay saw volumes up 11% in September, year on year, and up 10% year-to-date.
“We observed an uptick in our Cathay Fresh shipments from south-west Pacific, South-east Asia and North America into Hong Kong and bongdaso ìno Chinese mainland, driven by increased demand during bongdaso ìno mid-autumn festival,” explained Ms Lau. “There was also an increase in shipments through our Cathay Priority solution due to growing demand for time-sensitive shipments to bongdaso ìno Americas and Europe. From bongdaso ìno Greater Bay Area, ecommerce shipments continued to be bongdaso ìno key driver of our export tonnage.”
bongdaso ìno additional capacity did not put any pressure on rates, however. bongdaso ìno TAC Index today indicated week-on-week rates out of Hong Kong had risen 1.6%, while out of Shanghai, rates rose 3.6%.
bongdaso ìno NRF, meanwhile, warned last week that any new tariffs by bongdaso ìno US would hit consumer spending. It noted that bongdaso ìno Peterson Institute for International Economics and others found existing import tariffs cost an estimated ,500-,000 per US household, but that would rise to an average of more than ,000 under a second Trump administration.
Mr Shay added: “Tariffs are paid by bongdaso ìno importer and not bongdaso ìno producing country, and that is passed on to bongdaso ìno consumer. It’s a tax paid by bongdaso ìno consumer.
“Tariffs can be a useful temporary tool during trade negotiations, when used strategically and sparingly, to get benefits in a trade relationship.”
Source: https://theloadstar.com/air-cargo-shifts-capacity-to-where-bongdaso ìno-money-is-as-holiday-season-begins/
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