Preliminary traffic figures for the month of February produced by the Association of Asia Pacific Airlines (AAPA) reveal that the rate of growth in air cargo markets in the region quickened.
International air cargo demand on the region’s cargo carriers, as measured in freight tonne-kilometres (FTKs), increased by 11.3% compared to the same month of last year.
This reflected strong growth in new export orders and an acceleration in international trade, AAPA explained.
Growth in demand well outpaced the 1.2% year on year expansion in offered freight capacity, as measured in available freight tonne-kilometres (AFTKs).
As a result, there was a welcome 5.4 percentage point increase in the average international freight load factor, which reached 60.1%.
Commenting on the results, Andrew Herdman, AAPA director general, observed that over the course of the first two months of this year: “Air cargo demand registered a healthy 7.6% increase, with a boost in demand for air cargo shipments of intermediate and finished goods.
“High levels of business and consumer confidence across most major markets underpins continued optimism for further growth in both air passenger and cargo demand,” Herdman pointed out.
However: “Intense market competition, rising fuel and other costs will continue to put pressure on yields. As such, the region’s carriers remain vigilant in seeking further opportunities to enhance growth and increase operational efficiency.”
In January, international air cargo demand, as measured in FTKs, had grown by 4.7% year on year.
Offered freight capacity had risen by 3.8%, resulting in a 0.5 percentage point rise in the average international freight load factor to 59.4%.
