Abu Dhabi: Etihad Cargo, a division of Etihad Airways, is seeing in increase in European imports to China, in what has been generally a one-way export market.
“We are seeing an adjustment of flows between European exports in China, for example, [Chinese] middle class consumers buying European goods and that’s creating a market for car spares and different equipment moving into China,” said David Kerr, Vice President of Cargo at Etihad Airways.
China has long been reliant on its export market, however, a slowed global economy and subsequent decline of Chinese exports in recent years has impacted growth.
But domestic Chinese demand has not been as soft as some expected and the market remains strong for Etihad’s cargo division.
Growth in India, China
“We’re still seeing growth in our traditional markets such as India and China, they’ve had strong starts to the year,” Kerr said.
Chinese imports rose 4.3 per cent in 2013 from a year earlier, according to Chinese customs data.
Kerr added that the cargo division is growing ahead of a 6 per cent global average.
“We serve the garment industries from the Sub-Continent into Europe and the US on a significant scale,” he said
Kerr was speaking to the media on the side of the Middle East Cargo conference and exhibition in Abu Dhabi on Wednesday.
New markets, such as Vietnam and Brazil, which were added to the airlines network in 2013, are also contributing to growth. Kerr said both markets “continue to grow ahead of plan”
Etihad Cargo will take delivery of an Airbus A330-200F next month, which will be financed within the previously announced $2 billion that is needed for aircraft deliveries this year.
Kerr did not say when the two freighters, A330 and Boeing B777, ordered at the Dubai Airshow last November will be delivered other than “before the end of the decade.”