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There is healthy growth in international cargo and passenger markets, according to the Association of Asia Pacific Airlines
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Robust e-commerce demand and ongoing disruptions in maritime shipping boosted air cargo markets
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From January to July, this year, international air cargo demand rose by 15.6% year-on-year, in contrast to the depressed levels seen in the same period last year
There is healthy growth in international passenger and cargo markets, according to the Association of Asia Pacific Airlines (AAPA).
Robust e-commerce demand and ongoing disruptions in maritime shipping boosted air cargo markets. Global air cargo demand in freight ton kilometers (FTK) had a healthy 12.3% year-on-year increase in July, even as offered freight capacity rose by 11.0%.
This led to a 0.7% increase in average international load factor to 61.1% for July.
Based on preliminary July 2024 figures, regional initiatives to encourage travel were shown to yield positive results. Relaxation of visa policies resulted in a significant rise in leisure travelers during the peak summer holiday season.
AAPA director general Subhas Menon said: “The strong demand trend observed in the first half of the year carried into July, with Asian airlines reporting growth in both international passengers and cargo markets.”
From January to July, this year, international air cargo demand rose by 15.6% year-on-year, in contrast to the depressed levels seen in the same period last year, Menon added.
Asian airlines carried 31.9 million international passengers for the month, representing a 22.6% year-on-year hike. The steady growth brought traffic volumes to 95.5% of the levels in the same month of 2019, according to AAPA.
Menon also said: “Despite ongoing supply chain disruptions, the outlook for travel markets remains positive, as Asia Pacific airlines continue to benefit from resilient business and leisure demand.”
He cited China-based airlines as experiencing solid growth as China recovers, driving overall expansion.
READ: Manufacturing, e-commerce lift June air cargo 16.4% – AAPA
