The Association of Asia Pacific Airlines (AAPA) released preliminary traffic figures indicating a 7.2% year-on-year decline in air cargo demand as measured in freight tonne kilometers for June. According to the AAPA, this is the eighth consecutive month of declining traffic and volumes for the region.
The average international freight load factor for the month fell 5.1 percentage points to 58.8%, after accounting for a 1.0% increase in offered freight capacity.
Over the first half of the year, Asian airlines recorded a 6.2% decrease in demand, thanks to the continued trade war between China and the U.S. The decline reflects “prevailing weakness in international trade flows across regions, as widening trade disputes and higher tariffs continued to disrupt global supply chains,” according to AAPA Director General Andrew Herdman.
AAPA expects air cargo demand to continue to fall. “With moderating global business optimism levels and the absence of significant progress in trade negotiations, air cargo demand is expected to remain weak,” Herdman said in a statement.