Figures from the Association of Asia Pacific Airlines (AAPA) show a 20% drop in air cargo demand (expressed in freight tonne kilometres) for the month of June, as export demand continued to dwindle on the back of economic weakness aggravated by disruptions to global supply chains, a press release stated.
Meanwhile, offered freight capacity in June fell 27.2 percent with most passenger aircraft grounded, resulting in a 5.6 percentage point increase in the average international freight load factor at 64.9% for the month.
AAPA’s Director General Subhas Menon noted that the overall air cargo demand in the first six months slid 16 percent to 28.8 billion freight tonne kilometres, no thanks to general deterioration in consumer and business confidence. Freight capacity for the first half meanwhile slipped 21.7 percent to 46 billion freight tonne kilometres from the 58.7 billion available in the same period last year.
As the prospect of a recovery in travel markets during the second half remain uncertain, AAPA mentioned how airlines in the Asia Pacific region are rapidly depleting cash reserves and incurring massive losses.
“It is critical for governments to recognise the debilitating impact of current policies and work cooperatively to re-establish global connectivity whilst maintaining appropriate measures to safeguard public health in line with guidance published by the International Civil Aviation Organisation,” AAPA’s Director General stated in the press release.