Asia-Pacific airlines recorded another month of cargo demand growth in August, supported by continued stockpiling and shipment re-routing as trade-related uncertainties persisted.
Traffic figures released by the Kuala Lumpur-based Association of Asia Pacific Airlines (AAPA) showed that international air cargo demand — measured in freight tonne-kilometers (FTK) — grew 5.4% year-on-year.
August's 6.5 million metric tonnes of transported air freight was slightly lower than July's 6.8 million tonnes and the 6.6 million tonnes carried in June and 6.42 million tonnes in May. In April, Asia Pacific airlines carried 6.24 million tonnes of cargo.
AAPA said offered freight capacity grew by 5.5% year-on-year, resulting in a marginal 0.1 percentage point decline in the average international freight load factor to 59.5%.
"International air cargo markets continued to expand in August, spurred by stockpiling activity as businesses sought to mitigate tariff-related price pressures alongside the sustained demand for e-commerce shipments, international air cargo demand," said Subhas Menon, AAPA Director General.
Menon noted that both cargo and passenger markets have continued to demonstrate resilience in the face of global challenges, including protectionist trade measures and ongoing supply chain constraints.
During the first eight months of the year, international air cargo demand grew by 6.4%.
[Source: AAPA]
"Shifts in trade flows, driven by higher tariffs, also lent support to cargo traffic growth from the region’s major manufacturing hubs," the AAPA chief said.
Looking ahead, Menon said, the near-term outlook is likely to be shaped by further developments in global trade policy and inventory cycles.
"Persistent supply chain constraints and associated pressures on operating costs will continue to pose challenges, underscoring the need for airlines to remain agile in responding to market demand, and for continued vigilance in cost management," he said.
"Overall, Asia Pacific airlines are well-positioned to navigate the wider economic and operational challenges that present themselves in the coming months."
