Asia Pacific Airlines close 2018 with uncertainty
Traffic figures for the full calendar year 2018 released by the Association of Asia Pacific Airlines (AAPA) showed that air cargo demand growth eased after a strong 2017, reflecting slowing export activity amid increasing uncertainty over international trade policies.
Measured in freight tonne kilometres (FTK), international air cargo demand grew by 3.9%, moderating somewhat compared with the strong 9.6% increase registered in 2017. Offered freight capacity rose by 6.6%, outpacing demand. As a result, the average international freight load factor declined by 1.6 percentage points to 63.3%.
AAPA director general Andrew Herdman: "Growth slowed significantly in the closing months of 2018 as business confidence in the global manufacturing sector weakened in response to trade policy tensions." (ah)