Preliminary February 2025 traffic figures released by the Association of Asia Pacific Airlines (AAPA) showed growth in air cargo demand slowed down as export activity decelerated.
International air cargo demand, as measured in freight tonne kilometres (FTK), grew by 2.8% year on year in February, as export activity slowed across the major manufacturing hubs, notably China, during the festive celebrations, said the AAPA.
Offered freight capacity increased by 6%, outpacing the growth in demand to result in a 1.7 percentage point decline in the average international freight load factor to 56.5% for the month.
Preliminary January 2025 figures released by AAPA showed a 4.7% year-on-year increase in international air cargo demand.
But the overall results for 2025 so far have been positive.
Commenting on the results for the first two months of the year, Subhas Menon, AAPA director general, said that "international air cargo demand increased by 4% year-on-year, supported by higher demand for consumer and intermediate goods”.
However, looking ahead, he highlighted rising costs and protectionism as challenges for the region's airlines.
Menon said: “Overall, airlines are expected to continue to benefit from sustained travel demand and growth in air shipments as a result of ongoing expansion in e-commerce activity.
"However, the region’s carriers are facing headwinds, particularly as rising costs, driven in part by fleet capacity constraints, continue to exert pressure on revenue.”
Menon added: “The recent rise in protectionist sentiment also presents potential challenges to trade and broader business activity. In response, Asian airlines are maintaining a cautious stance, closely monitoring evolving operating conditions while actively exploring opportunities in high-potential growth markets.”
