Exports fuel Asia-Pacific air cargo demand
International air cargo demand grew in April for Asia-Pacific carriers on the back of sustained demand for Asian exports, according to preliminary traffic figures released by the Association of Asia Pacific Airlines (AAPA).
Airfreight demand in freight tonne kilometers (FTK) increased by 4.7 percent in April year over year. But freight load factors remained under pressure due to capacity expansion. With offered freight capacity expanding by 5.3 percent, the international freight load factor averaged 64.3 percent in April, 0.4 percentage points lower than the same month last year.
Meanwhile, international passengers increased by 7.4 percent.
“Air cargo demand for the region's carriers grew by 4.2 percent [during the first four months of the year], thanks to an improvement in global trade conditions,” Andrew Herdman, AAPA director general, said. “The overall demand environment looks positive, underpinned by positive growth in the global economy. However, the region’s carriers continue to face intense competition in the marketplace with signs of overcapacity and the resulting yield pressures.”