International air cargo demand for Asia-Pacific airlines was healthy in May, as indicated by a 4.7 percent increase in volume growth year-over-year, according to the latest traffic figures released by the Association of Asia Pacific Airlines (AAPA).
Last month’s volume expansion, which was measured in freight tonne kilometers, was largely propelled by export shipments by air to the U.S. and Europe having gained momentum, AAPA said in a statement.
Offered freight capacity registered a 4 percent increase to push up the average international freight load factor 0.5 percentage points higher to 64.9 percent in May compared to the same month last year.
During the first five months of the year, Asia-Pacific airlines saw air cargo demand grow by 4.4 percent, which “reflects generally positive economic sentiment in global markets,” according to the Kuala Lumpur, Malaysia-based trade association.
AAPA director general Andrew Herdman cautioned, however, that pricing would remain very competitive across all segments of the industry and that the recent jump in oil prices above the US$110 mark was another cause for concern.
“Asian carriers continue to carefully manage capacity in line with demand growth, keeping a tight rein on costs to maintain profitability,” he said
In other developments, Singapore Changi Airport said it processed 157,500 tonnes of airfreight in May for a 3.5 percent increase year-over-year.
For the period of January to May 2014, cargo shipments at the airport increased by 0.8% to 755,400 tonnes.
Photo courtesy of Singapore Changi Airport
