Air freight export demand decreases for Asia Pacific: AAPA

Traffic figures for August released by the Association of Asia Pacific Airlines (AAPA) showed decline in air cargo market demand for export orders. Demand in freight tonne kilometres (FTK), had a  1.8 per cent year-on-year fall in August as compared to the subdued volumes in August 2022. Subhas Menon, AAPA director general, said the airlines showed a “7.6 per cent decline in international air cargo demand, reflecting prevailing weakness in international trade flows. In addition, the normalisation of container shipping rates affected the demand for air shipments of non-time sensitive goods”. The international freight load factor recorded a 6.6 per cent point decline to average 58.8% for the month, and accounted for 9.2 per cent year-on-year expansion in offered freight capacity.