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May 30, 2018

Asia Pacific Airlines' air cargo markets record encouraging growth

Preliminary traffic figures for the month of April released by the Association of Asia Pacific Airlines (AAPA) showed growth in international air passenger and air cargo demand progressed at an encouraging pace, driven by further expansions in global service and manufacturing sectors.

Even though there are signs that international trade flows may be easing, international air cargo demand for the region's carriers, in freight tonne kilometres (FTK) terms, saw an encouraging 5.8% year-on-year increase in April.

Improvement in client demand within the region, on the back of stronger domestic conditions, aided growth in air cargo markets. After accounting for a 6.6% expansion in offered freight capacity, the average international freight load factor was 0.5 percentage points lower at 64.1% for the month.

Commenting on the results, Mr. Andrew Herdman, AAPA Director General said, "The global economy is still on a solid footing, with growth in most sectors, including technology and consumer goods. Accordingly, business and consumer sentiment remained relatively positive, underpinning further growth in passenger travel and air cargo demand."

"Overall, during the first four months of the year, Asia Pacific airlines carried an aggregate total of 118 million international passengers, a solid 7.3% increase compared to the same period last year. Correspondingly, air cargo demand registered an encouraging 5.7% growth during the same period, on top of the strong 9.6% annual increase recorded in 2017."

Source: AAPA