Preliminary traffic figures for the month of November released by the Association of Asia Pacific Airlines (AAPA) indicate that demand for air cargo remained subdued in line with weak international trade flows.
The region’s airlines saw international air cargo demand demand fall by 1.9% year-on-year, as declines in new export orders affected international trade activity. Offered freight capacity increased by 1.2% year-on-year, resulting in a 2.0 percentage point decline in the average international freight load factor to 62.9% for the month.
Commenting on the results, Mr. Andrew Herdman, AAPA Director General said, “Asian airlines carried a combined 342 million international passengers during the first eleven months of the year, achieving 4.2% growth despite falling business confidence levels and corresponding moderation in economic activity across regions.
“However, 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.”
Source: AAPA< Return