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Asia Pacific airlines registered an 8.9% year-on-year growth in international air cargo demand in September, according to the Association of Asia Pacific Airlines
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This is despite a slowdown in the wider global manufacturing sector, AAPA said
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After accounting for a 9.4% increase in offered freight capacity, the average international freight load factor declined 0.3 percentage points for the month
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Cargo growth for the period was supported by exports from China, India, Japan, and South Korea
Asia Pacific airlines registered an 8.9% year-on-year growth in international air cargo demand in September despite a slowdown in the wider global manufacturing sector, according to the Association of Asia Pacific Airlines (AAPA).
Preliminary data from AAPA for September showed a strong growth trajectory in international passenger and cargo traffic, driven by steady consumer and business demand in the region.
The Asia Pacific air cargo sector remained resilient as the year-end festive season approaches. After accounting for a 9.4% increase in offered freight capacity, the average international freight load factor declined marginally, by 0.3 percentage points to 60.2% for the month.
“Air cargo markets continued to expand, driven by the increases in export volumes from key manufacturing economies in Asia, including China, India, Japan and South Korea,” AAPA director general Subhas Menon said.
AAPA also reported an 18.8% increase in international passengers in September, with nearly 29.2 million passengers, nearing pre-pandemic traffic levels (97.5% of September 2019 volumes).
Measured in revenue passenger kilometers, demand for international travel rose by 19.3% from the previous year, buoyed particularly by long-haul travel. AAPA reports that available seat capacity expanded by 18.7%, leading to a 0.4 percentage-point increase in passenger load factor to 80.5%.
“Asian airlines have seen robust growth in travel markets this year. Leisure demand remained buoyant, driving increases in tourist arrivals across the region. Meanwhile, business travel was underpinned by the region’s growing economies,” said Menon.
“Overall, during the first nine months of the year, the number of international passengers carried by Asia Pacific airlines rose by 34% to an aggregate total of 269 million, while international air cargo demand registered a 14% increase compared to the same period last year,” said Menon.
“The global economy is expected to grow by 3.2% this year and in 2025, supporting expansion in both travel and air cargo markets. However, this may be undermined by uncertainties stemming from increasing geopolitical risks and rising trade protectionism. Although the overall decline in jet fuel prices this year has helped to moderate rising costs, airlines continue to face challenges in fleet renewal and network growth, due to ongoing supply chain disruptions and aircraft delivery delays,” the AAPA director said.
READ: Asia Pacific airlines’ air cargo demand up 12.2% in Aug
