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Asia Pacific Airlines close 2018 with uncertainty
Photo: Andreas Haug
Traffic figures for the full calendar year 2018 released by the Association of Asia Pacific Airlines (AAPA) showed that air cargo demand growth eased after a strong 2017, reflecting slowing export activity amid increasing uncertainty over international trade policies.
Measured in freight tonne kilometres (FTK), international air cargo demand grew by 3.9%, moderating somewhat compared with the strong 9.6% increase registered in 2017. Offered freight capacity rose by 6.6%, outpacing demand. As a result, the average international freight load factor declined by 1.6 percentage points to 63.3%.
AAPA director general Andrew Herdman: "Growth slowed significantly in the closing months of 2018 as business confidence in the global manufacturing sector weakened in response to trade policy tensions." (ah)