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Preliminary June 2024 traffic figures released by the Association of Asia Pacific Airlines showed strong demand for international air cargo capacity in June
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International air cargo demand rose 16.4% year-on-year, driven by e-commerce and manufacturing activity in Asia
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Growth was also spurred by security concerns in the Red Sea region, leading to increased demand for air freight shipments
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AAPA expects air traffic volumes to recover to pre-pandemic levels by year-end
Preliminary June 2024 traffic figures released by the Association of Asia Pacific Airlines (AAPA) showed strong demand for international air cargo capacity in June, the association said in a statement.
AAPA cited manufacturing activity momentum across the Asian economies, including those of China and India, which saw a 16.4% year-on-year increase in international air cargo demand as measured in freight ton kilometers (FTK) flown.
Growth was also spurred by e-commerce and security concerns in the Red Sea region, leading to increased demand for air freight shipments, according to AAPA.
READ: E-commerce boom, MidEast conflicts fuel global air cargo demand
Asia Pacific airlines accounted for a 12.6% growth in offered freight capacity (in available freight ton kilometers or FATK).
Average international freight load factor inched two percentage points higher to average 62.8% for June.
“Asian airlines are seeing robust traffic growth, in tandem with expansion in global economic activity and improvements to connectivity within the region and globally,” said AAPA director general Subhas Menon.
“International air cargo demand grew by 16% during the same period, as a pick-up in export activity, coupled with disruptions to maritime shipping, drove an increase in air freight volumes carried across major trade lanes,” he added.
Menon said Asia Pacific airlines carried a combined total of 173 million international passengers from January to June 2024, up 40% compared to the same period last year.
AAPA is the trade association for scheduled international airlines based in the Asia Pacific region.
Meanwhile, AAPA expects air traffic volumes to recover to pre-pandemic levels by year-end, despite uncertainties in the geopolitical landscape.
“Increased services to new and existing destinations will further boost travel demand, with traffic volumes expected to recover to pre-pandemic levels by the end of the year. Meanwhile, the region’s carriers remain focused on safe and sustainable operations, whilst maintaining cost efficiency,” Menon concluded.
