Preliminary August 2025 traffic figures released by the Association of Asia Pacific Airlines (AAPA) showed that international air cargo markets continued to expand in August, spurred by stockpiling activity as businesses sought to mitigate tariff-related price pressures. Alongside the sustained demand for e-commerce shipments, international air cargo demand, as measured in freight tonne kilometres (FTK), recorded a 5.4% year-on-year increase.
Offered freight capacity grew by 5.5% year-on-year, resulting in a marginal 0.1 percentage point decline in the average international freight load factor to 59.5%.
Commenting on the results, Mr Subhas Menon, AAPA Director General, said: “Both passenger and cargo markets have continued to demonstrate resilience in the face of global challenges, including protectionist trade measures and ongoing supply chain constraints… international air cargo demand grew by 6.4%. Shifts in trade flows, driven by higher tariffs, also lent support to cargo traffic growth from the region’s major manufacturing hubs.”
Looking ahead, Mr Menon said: “On the cargo front, the near-term outlook is likely to be shaped by further developments in global trade policy and inventory cycles.”
“Persistent supply chain constraints and associated pressures on operating costs will continue to pose challenges, underscoring the need for airlines to remain agile in responding to market demand, and for continued vigilance in cost management. Overall, Asia Pacific airlines are well-positioned to navigate the wider economic and operational challenges that present themselves in the coming months.”