Cargo Breaking News
The Association of Asia Pacific Airlines (AAPA) has reported a growth of 10.5 percent YoY in air cargo for November 2024. The growth in shipment volumes was driven by sustained e-commerce demand and the front-loading of export orders ahead of anticipated US tariff hikes. International air cargo demand, measured in freight tonne kilometres (FTK), increased by 10.5% year-on-year, slightly outpacing a 10.0% rise in offered freight capacity. Consequently, the average international freight load factor edged up by 0.2 percentage points to 62.3% for the month.
“Asia Pacific airlines have led growth in international travel markets this year, benefitting from strong demand for both business and leisure travel. Demand has now fully recovered to prepandemic levels. Overall, for the first eleven months of the year, the region’s carriers recorded a 31% increase in the number of international passengers carried to a combined total of 334 million,” Subhas Menon, AAPA Director General said.
“Driven by increased demand going into the year-end holiday season, air cargo markets saw healthy growth in November, contributing to a strong 14% year-on-year increase for the first eleven months of the year. Persistent operational challenges in maritime shipping and anticipated US tariff hikes further bolstered demand”, he added.
