AAPA Reports Strong Upswing in Air Cargo Markets in October
Members of the Association of Asia Pacific Airlines (AAPA) have reported a "firm increase in air cargo demand" in October, the industry grouping said in a statement today.
Preliminary traffic figures for the month of October show that 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% increase as measured in freight tonne kilometers (FTK), the strongest monthly increase of the year thus far.
Growth in demand significantly outpaced the 3.9% expansion in offered freight capacity, leading to a 1.9 percentage point rise in the average international freight load factor to 65.7% for the month, AAPA said.
Protectionism could jeopardize further development
Commenting on the results, which also showed further - but slower - growth in international air passenger markets, AAPA Director General, Andrew Herdman said: "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% compared to the same period last year."
Herdman noted that "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."
Nol van Fenema