Higher demand for consumer and intermediate goods made for continued momentum in air cargo said the Association of Asia Pacific Airlines (AAPA) in its preliminary April 2024 traffic figures.
According to AAPA’s figures, published on May 28, international freight tonne kilometres (FTK), were up 13.7% year-on-year in April. However, offered freight capacity expanded by 14.4%, giving a marginal 0.4 percentage point decline in the average load factor, to 59.9%.
April’s increase builds on the 10.2% increase in cargo FTKs seen in February, which came on the back of a reinvigorated manufacturing sector and continued e-commerce growth. However the growth in available capacity in April has moderated from the 20.8% surge seen in February.
AAPA director general, Subhas Menon, said: “Asia Pacific airlines posted an encouraging 15% year-on-year increase in air cargo traffic volumes, with the pick-up in global demand supporting export activity from major manufacturing hubs located in the region, in particular, China.”
In April 2024, passenger travel leaped by 32% compared to the same month last year, to 28.0 million, doubtless a factor in the increased available cargo capacity.
Menon added: “Looking ahead, positive business and consumer confidence levels are likely to support continued growth in cargo and air passenger markets in the coming months. Nevertheless, supply chain constraints and higher operating costs remain a concern, while geopolitical tensions continue to cloud the outlook of the industry. Against this background, the region’s carriers remain focused on improving operational efficiency and growing sustainably.”