AsiaPac air cargo demand remains weak in August

Air cargo markets in the Asia Pacific region remained relatively weak in August, according to the latest data from the Association of Asia Pacific Airlines (AAPA).
The association stated: “The weakness in air cargo markets extended to the month of August, with demand in freight tonne kilometre (FTK) terms recording a slight 0.3% decline compared to the same month last year.
“Offered freight capacity grew by 3.3%, and consequently the average international freight load factor fell by 2.2 percentage points to 61% for the month.”
By comparison, the AAPA airline membership carried a combined total of 24.9m international passengers in August, 7.2% more than the same month last year.
Commenting on the results, AAPA director general Andrew Herdman said: “Air cargo markets remain weak, reflecting a further slowdown in world trade in recent months. Overall, however, after accounting for the initial growth spurt earlier this year, air cargo demand has still registered a 3.0% increase for the first eight months of the year."
Herdman concluded, "The outlook for air cargo markets is more uncertain, given signs of weakness in global trade activities, but should see some seasonal demand as we move towards the end of the year."
AAPA’s finding’s reflect cargo demand figures reported by airlines for the month of August.

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