Air cargo demand edged up 0.1 per cent in November, according to preliminary traffic figures for the month released today by the Association of Asia Pacific Airlines (AAPA).
The association said volumes remained relatively high but demand growth was almost flat for the month and freight tonne kilometres (FTK) just matched the strong demand recorded during the same month in the previous year.
Offered freight capacity increased by 5.9 per cent leading to a 3.8 percentage point decline in the average international freight load factor to 65.2 per cent.
AAPA director general, Andrew Herdman said: “The moderation in export activity with slowing business orders, contributed to the slowdown in air cargo growth for the month, although this was mitigated by higher volumes of e-commerce shipments going into the end-year festive season.
“Overall, the region’s airlines recorded a cumulative 4.3% increase in air cargo demand during the first eleven months of the year, a reasonably solid growth rate following the exceptionally strong 9.6% annual increase recorded in 2017.”
Looking ahead, Herdman said, “Overall prospects remain relatively positive. Continued moderate growth in the global economy and lowered oil prices should support further expansion in air travel demand and air cargo markets in the coming year, although the recent deterioration in trade sentiment and uncertainties over the potential impact on consumer confidence levels present some downside risks.
“Overall, Asian airlines continue to exercise vigilance in monitoring any changes in market conditions, whilst seeking growth opportunities.”