Asia Pacific cargo volumes continue to decline
29 / 07 / 2019
By Rachelle Harry
According to the Association of Asia Pacific Airlines’ (AAPA) figures for June, air cargo volumes have declined for the eighth consecutive month.
Air cargo markets in June weakened with the fall in global new export orders. Airlines in the Asia Pacific region recorded a 7.2% year-on-year fall in air cargo demand as measured in freight tonne kilometres (FTK), marking the eighth consecutive month of declining volumes.
The average international freight load factor fell significantly, by 5.1 percentage points to 58.8% for the month, after accounting for a 1.0% increase in offered freight capacity.
Andrew Herdman, director general at the AAPA, said, “Asian airlines recorded a 6.2% decline in air cargo demand, reflecting prevailing weakness in international trade flows across regions, as widening trade disputes and higher tariffs continued to disrupt global supply chains.
“In the months ahead, the region’s airlines will closely monitor changes to operating conditions, while managing business operations with the aim of sustaining profitability.”
The AAPA’s June figures also showed a 4.0% year-on-year increase in the number of international passengers carried to an aggregate total of 31 million for the month, reflecting resilience in growth despite the global decline in business and consumer confidence levels.