AAPA reports continued weakness in September cargo performance

The Association of Asia Pacific Airlines (AAPA) has reported traffic figures for September that highlight continued weakness in the region’s cargo market.

International air cargo markets remained “under pressure”, the association that represents Asia-Pacific carriers, noted.

It blamed export activity being hampered by depressed business and consumer confidence levels amid deterioration in global macroeconomic conditions.

International air cargo demand, as measured in freight tonne-km, fell by 10.4% compared to September 2021. Meanwhile, available freight capacity continued to grow, by 5.9% year-on-year, with a consequent 11.6% fall in the international freight load factor to 64%.

There was a 4.4% decline in demand for air cargo over the first nine months of this year compared to the same three quarters of 2021.

Subhas Menon, AAPA’s director general, commented: “The outlook for the cargo market remains subdued in the near term.

“Overall, the region’s airlines continue to face a challenging operating environment, with operating costs under pressure as a result of high fuel prices and weak local currencies.”