International air cargo demand in October saw a 2.1 percent increase compared to the same month last year, providing further evidence that volumes have stabilized following very weak market conditions over the past two years, the AAPA added.
But the growth did not keep pace with the 4 percent increase in offered freight capacity, resulting in a 1.2 percentage point fall in the average international freight load factor, to 66.1 percent for the month.
Nonetheless, Andrew Herdman, AAPA director general, welcomed the positive development, as the cumulative decline in airfreight demand narrowed to 1.3 percent during the first ten months of the year.
“Asian carriers remain optimistic for the longer term recovery of the air cargo market, after seeing prolonged weak demand conditions. The steady improvement in global business conditions and the tentative recovery in consumer sentiment seen in the major developed economies give us added confidence in future growth prospects, even though competitive pressures are still weighing heavily on both yields and margins for Asian carriers.”
Photo: Pieter v Marion