Wednesday, June 12, 2024
AAPA: Exports keep falling across Asia Pacific

AAPA: Exports keep falling across Asia Pacific

Air cargo demand across Asia Pacific continues to fall as exports continue to slow in the face of challenging business conditions, the Association of Asia Pacific Airlines (AAPA) reports.

In May, demand measured in freight tonne kilometres was down 6.5% to 5.9 billion, with demand up 0.3% to 10 billion, pushing down load factors by 4.3 percentage points to 59%.

Between January and May, demand declined 6.2% to 28.4 billion, with capacity increasing 1.2% to 49.1 billion and load factors falling 4.6 percentage points to 58%.

Andrew Herdman, director general of AAPA says: “Sustained expansion in major global and regional economies supported further growth in passenger markets, but air cargo demand is weak as a result of the slowdown in the manufacturing sector and deteriorating business confidence, undermined by the ongoing trade disputes.”

He adds that while prospects for the travel market are positive, operating conditions have becoming increasingly challenging.

Herdman says: “Airlines are grappling with the effects of weaker air cargo demand, volatile oil prices and renewed downward pressure on passenger yields.”

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