Asia’s full-service airlines are continuing to struggle with cargo overcapacity that is weighing on freight rates, the Wall Street Journal reported Wednesday. Air cargo shipments carried by airlines in the Asian-Pacific region, which account for nearly 40 percent of the global airfreight market, saw just 0.1 percent growth in February, slowing from the 3.8 percent on-year growth rate the previous month, it said. Analysts were quoted as saying that cargo yields will remain under pressure for key full-service carriers in Asia as freight rates stay weak. Air cargo accounts for as much as a third of total revenues at some Asian airlines, significantly higher than those of their counterparts elsewhere in the world, the report noted.
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