Asia Pacific freight demand sees healthy growth
Airfreight markets had a healthy growth in demand in May, according to preliminary traffic figures released by the Association of Asia Pacific Airlines (AAPA).
International air cargo demand, in freight tonne kilometers, increased by 4.7 percent in May, with export shipments by air to the U.S. and Europe gaining momentum. Offered freight capacity registered a 4 percent increase.
As a result, the average international freight load factor edged 0.5 percentage points higher to 64.9 percent in May compared to the same month last year.
The number of international passengers increased by 6.9 percent in May.
“During the first five months of the year, Asia Pacific airlines carried a combined total of 103 million international passengers representing 5.5 percent growth, whilst air cargo demand grew by 4.4 percent in the same period. The growth in demand seen in both the passenger and airfreight markets reflects generally positive economic sentiment in global markets,” Andrew Herdman, AAPA director general, said. “Nevertheless, pricing remains very competitive across all segments of the industry, and the recent jump in oil prices above the US$110 mark is another cause for concern. Asian carriers continue to carefully manage capacity in line with demand growth, keeping a tight rein on costs to maintain profitability.”