Preliminary traffic figures for the month of August released today by the Association of Asia Pacific Airlines (AAPA) showed a moderation in both air cargo and international air passenger markets.
Asia Pacific airlines saw international air cargo demand in August grow by 2.5 per cent in freight tonne kilometre (FTK) terms. The average international freight load factor edged marginally higher by 0.1 percentage points to 60.5 per cent in August, on a 2.3 per cent increase in offered freight capacity.
Commenting on the results, Andrew Herdman, AAPA director general said global freight markets remained subdued, noting that: “Asia Pacific airlines saw generally lacklustre international air cargo demand for the January-August period, registering a 0.7 per cent volume decline compared to the same period last year, although the shortfall has narrowed following a modest uptick in recent months.
“For the first eight months of the year, Asian carriers registered a healthy 6.5 per cent increase in the number of international passengers carried to a cumulative total of 196.3 million, on the back of continued strong demand for both business and leisure travel.”
Looking ahead, Herdman concluded: “Asian economies are still growing, and demand for air travel has been boosted by rising incomes and the widespread availability of affordable airfares, but growth rates may moderate as oil prices have now stabilised, adding to competitive pressures. For the air cargo markets, the persistent weakness in global trade conditions remains a concern, with rates remaining depressed despite the recent uptick in air cargo activity.”