Preliminary August 2024 traffic figures released recently by the Association of Asia Pacific Airlines (AAPA) revealed robust growth in air cargo volumes.
Despite signs of moderation in the broader manufacturing sector, the surge in e-commerce demand out of the major manufacturing hubs in the region drove air cargo volumes higher. International air cargo demand, as measured in freight tonne kilometres (FTK), recorded a 12.2% year-on-year increase, outpacing the 10.4% expansion in offered freight capacity. As a result, the average international freight load factor rose by 0.9 percentage points to 59.6% for the month, marking the fourth consecutive monthly increase after more than two years in decline, said a release.
During the first eight months, international air cargo demand surged by 15% year-on-year, driven by several key factors, including a thriving e-commerce sector. Disruptions in ocean freight logistics also encouraged modal shifts from sea to air, as businesses sought faster and more reliable transport alternatives.”