Air, Business, Freight News

Asia Pacific Airlines: passenger demand robust; weakness in cargo markets

[ October 28, 2022   //   ]

Preliminary September 2022 traffic figures released by the Association of Asia Pacific Airlines (AAPA) showed international passenger demand sustained its strong upward momentum despite a worsening global economic outlook. In September, the number of international passengers carried by the region’s airlines surged to 11.7 million.
On the other hand, international air cargo markets remained under pressure, as export activity was hampered by depressed business and consumer confidence levels amid a deterioration in global macroeconomic conditions. As a result, international air cargo demand as measured in freight tonne kilometres (FTK) recorded a double-digit decline of 10.4% year-on-year in September.
Meanwhile, offered freight capacity continued to expand, by 5.9% for the month, leading to a 11.6 percentage point fall in the average international freight load factor to 64.0%.
“The outlook for the cargo market remains subdued in the near term,” said Subhas Menon, AAPA Director General. “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.”