Asia airfreight droops as passengers soar away
30 / 05 / 2023
Air cargo freight tonne kilometres (FTK) fell by 5.5% year on year in April, according to preliminary figures released on May 30 by the Association of Asia Pacific Airlines (AAPA).
With offered freight capacity continuing to increase by 10.4%, the average international freight load factor declined markedly by 10.1 percentage points to 59.8% for the month.
AAPA director general, Subhas Menon, said: “Air cargo markets fell 11%, underlining the challenging business environment amid rising uncertainty in global economic conditions.”
AAPA added that export activity remained relatively muted, held back by declines in new business orders and trade barriers due to geopolitical tensions. The easing of supply chain pressures also encouraged a shift to maritime shipping, it said.
In contrast, the April figures showed continuing recovery in the passenger market. Collectively, Asia Pacific airlines recorded a 250% year-on-year increase in international travellers carried to a total of 20.3m.