Preliminary traffic figures for the month of August released yesterday by the Association of Asia Pacific Airlines (AAPA) showed international air cargo markets saw sustained client demand.
Growth in international air cargo demand as measured in freight tonne kilometres (FTK) recorded a 4.2 per cent year-on-year increase in August. Monthly FTK volumes remained relatively firm, with broad-based economic growth continuing to support demand for air cargo.
The average international freight load factor fell slightly by 0.8 percentage points to 63.2 per cent for the month, following a 5.5 per cent expansion in offered freight capacity.
AAPA director general, Andrew Herdman said: “International air cargo demand increased by 4.8%, although growth rates have moderated after the strong surge we saw last year.”
Looking ahead, Herdman said, “The ongoing expansion in the global economy is sustaining high levels of consumer confidence which should continue to support further growth in both leisure and business travel markets. Air cargo demand remains relatively firm moving into the peak season, even though growth rates have moderated.
“The escalation in protectionist rhetoric and the imposition of new tariffs has so far had little real impact on trade flows, but adds an element of uncertainty for businesses reliant on integrated global supply chains.”
“Asian airlines are benefitting from the sustained growth in air travel demand, and achieving high load factors, but continue to face a challenging operating environment, buffeted by the effects of high fuel prices and weak local currencies. Overall, Asian airlines remain proactive in adapting to such pressures in a bid to maintain earnings performance.”