International air cargo volumes remained firm in October despite tensions around global trade policies, according to figures released today by the Association of Asia Pacific Airlines (AAPA).
AAPA said Asian airlines saw international air cargo demand as measured in freight tonne kilometres (FTK) increase by 5.6 per cent year-on-year in October, supported by increasing orders going into the year-end peak season.
Offered freight capacity increased by 7.3 per cent, resulting in a 1.1 percentage point decline in the average international freight load factor to 65.5 per cent for the month.
AAPA director general, Andrew Herdman said: “The global economy continued to expand moving into the fourth quarter, with further strengthening of global services activity but somewhat slower expansion in the global manufacturing sectors. Together with improvements in connectivity, these factors supported the continued growth in air traffic demand for Asian carriers.”
In the first 10 months of the year, AAPA said international air cargo traffic carried by Asian airlines recorded 4.8 per cent growth over the the same period last year.
Looking ahead, Herdman said: “Prospects for further growth in air travel demand and air cargo markets remain positive. Geopolitical risks and uncertainty over unresolved trade tensions are a concern, but consumer confidence levels remain relatively robust.
“Overall, the region’s carriers remain focused on strengthening financial performance through operational efficiency gains, whilst delivering high levels of customer service.”