Preliminary traffic figures for October released today by the Association of Asia Pacific Airlines (AAPA) show a strong increase in air cargo demand.
AAPA says the pick-up in international air cargo demand, which began in the middle of the year, extended to the month of October with a firm 7.1 per cent rise measured in freight tonne kilometres (FTK), the strongest monthly increase of the year thus far.
Growth in demand significantly outpaced the 3.9 per cent expansion in offered freight capacity, leading to a 1.9 percentage point rise in the average international freight load factor to 65.7 per cent for the month.
AAPA girector general, Andrew Herdman says: “The relatively strong upswing in air cargo markets in October sustains the positive trend established over recent months, although overall volumes for the first ten months of the year are up by just 0.7 per cent compared to the same period last year.”
Looking ahead, Herdman concludes “The upswing in air cargo markets is a welcome development, although confidence remains fragile amidst still weak global trade conditions and signs that protectionist sentiments are likely to shape the political agenda.”