Asian airlines saw cargo demand continue to strengthen in October, but the region’s airline association warns of weak trade conditions and the growth of protectionism.
Figures from the Association of Asia Pacific Airlines (AAPA) show that carriers in the region saw cargo demand increase by 7.1% in freight tonne km terms.
AAPA said the improvement in cargo demand began in the middle of the year and added that October was the largest year-on-year percentage improvement recorded in 2016 so far.
Growth in demand significantly outpaced the 3.9% expansion in offered freight capacity, leading to a 1.9 percentage point rise in the average international freight load factor to 65.7% for the month.
AAPA director general Andrew Herdman said: “The relatively strong upswing in air cargo markets in October sustains the positive trend established over recent months, although overall volumes for the first ten months of the year are up by just 0.7% compared to the same period last year.
“The upswing in air cargo markets is a welcome development, although confidence remains fragile amidst still weak global trade conditions and signs that protectionist sentiments are likely to shape the political agenda.”
The results mirror those reported in Air Cargo News' latest Asian Cargo Monthly report.
