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Cargo markets remain weak in Asia Pacific
Photo: Hactl
Preliminary August 2022 traffic figures released two days ago by the Association of Asia Pacific Airlines (Aapa) showed robust recovery in international air passenger markets as pent-up travel demand continued to drive growth, despite increasingly challenging global economic conditions.
Meanwhile, demand for exports waned, further dampening air cargo markets. As a result, August saw international air cargo demand, in freight tonne kilometres (ftk), decline by 7.9% year-on-year.
On the other hand, offered freight capacity expanded by 5.2%, with ongoing recovery in commercial passenger operations adding available bellyhold space. This led to a sharp 9.5 percentage point fall in the average international freight load factor to 66.4% in August. (cj)