Decline continues at Asian cargo airports
The preliminary traffic figures for April released by the Association of Asia Pacific Airlines (AAPA) showed further contracting air cargo volumes, following disruptions to global supply chains amid heightened trade tensions, particularly between the USA and China.
Air cargo demand as measured in freight tonne kilometres (FTK) fell by a steep 9.1% year-on-year in April, with further declines in new export orders affecting trade activity. In particular, the shrinkage in air shipment volumes coincided with production declines in the region's technology equipment sectors.
Whilst demand fell, offered freight capacity grew by 0.4%, leading to a 6.0 percentage point drop in the average international freight load factor to 57.3% for the month. (ah)