Momentum for cargo builds for Asia-Pacific airlines in February
Air cargo markets across Asia picked up momentum last month, posting solid increases in demand, according to preliminary February traffic figures from the Association of Asia Pacific Airlines (AAPA).
Cathay Pacific cargo operations
International air cargo demand for member carriers registered growth of 11.3 percent in freight tonne kilometers (FTK), compared to February last year, and a 7.6 percent increase over the first two months of 2017. The improvement was “underpinned by strong growth in new export orders and an acceleration in international trade activity,” AAPA said.
In contrast to industry-wide reports of overcapacity, growth in demand for capacity at airlines represented by AAPA outpaced the 1.2 percent expansion in offered freight capacity, resulting in a 5.4-percentage-point increase in the average international freight load factor to 60.1 percent for February.
Andrew Herdman, AAPA director general, said “air cargo demand registered a healthy 7.6 percent increase, with a boost in demand for air cargo shipments of intermediate and finished goods.”
Herdman added that, “High levels of business and consumer confidence across most major markets underpin continued optimism for further growth in both air passenger and cargo demand.” However, he cautioned that “intense market competition, rising fuel and other costs will continue to put pressure on yields.”