Asia Pacific freight load factor up fourth month running
02 / 10 / 2024
Photo: Jaromir Chalabala/ Shutterstock
The average international freight load factor for Asia Pacific airlines rose for the fourth consecutive month in August following more than two years in decline, but supply chain disruptions continue to blight operations.
Preliminary August traffic figures released by the Association of Asia Pacific Airlines (AAPA) found international air cargo demand, as measured in freight tonne kilometres (FTK), recorded a 12.2% year-on-year increase, outpacing the 10.4% expansion in capacity.
As a result, the average international freight load factor rose by 0.9 percentage points to 59.6% for the month.
Despite signs of moderation in the broader manufacturing sector, the surge in e-commerce demand out of the major manufacturing hubs in the region drove air cargo volumes higher, commented the AAPA.
Subhas Menon, AAPA director general, said that during the first eight months of the year: “International air cargo demand surged by 15% year on year, driven by several key factors, including a thriving e-commerce sector. Disruptions in ocean freight logistics also encouraged modal shifts from sea to air, as businesses sought faster and more reliable transport alternatives”.
Looking ahead, Menon said that “the outlook for air cargo markets is positive, with businesses replenishing inventories in preparation for the year-end festive season”.
However, he added: “Nevertheless, persistent supply chain disruptions continue to pose challenges to the region’s carriers. Delays in aircraft deliveries, shortages of spare parts and lack of skilled labour have heightened operational pressures, contributing to flight disruptions, further increasing costs. Faced with such external pressures, airlines are carefully managing flight frequencies and schedules, without compromising the industry’s excellent safety standards.”
Market data indicates that volume growth out of Asia slowed in September, however, the rate of growth is expected to pick up again this month.
