The Association of Asia Pacific Airlines (AAPA) has revealed in its preliminary figures for November that demand for air cargo remained weak, in-line with trends internationally.
In fact, during November last year, international air cargo demand in freight tonne kilometres (FTKs) declined by 1.9% year-on-year. Meanwhile, capacity for international arifreight increased by 1.2% year-on-year, resulting in a 2.0 percentage point decrease in airfreight load factor to 62.9% (for the month).
Andrew Herdman, director general of the AAPA, commented: "Air cargo volumes for the first eleven months of 2019 registered a 5.3% decline compared to the same period in the previous year, as challenging business conditions resulting from protracted trade disputes dampened demand. Asian airlines were particularly vulnerable, given the region's importance in the global manufacturing supply chain. The outlook for air cargo demand remains overshadowed by uncertainty over the resolution of ongoing global trade disputes."
Looking to the future, Herdman added: "The region's carriers remain vigilant in monitoring and responding to changes in market conditions, whilst seeking new growth opportunities."
