Cargo still at a low in October

APAC airlines saw a decline of 5.8 per cent in cargo demand

AAPA air cargo load factor Andrew Herdman Association of Asia Pacific Airlines depressed downward pressure excess capacity freight capacity global air cargo markets October rates weak demand

Preliminary traffic figures for October released by the Association of Asia Pacific Airlines (AAPA) were a replay of the earlier month: weak air cargo demand but growth in international passenger traffic.

International air cargo demand carried by Asia Pacific airlines, expressed in freight tonne kilometre (FTK) terms, declined by 5.8 per cent year-on-year in October. Offered freight capacity was reduced by 6.1 per cent. According to Andrew Herdman, AAPA director general, the global air cargo markets were still depressed. “Overall, the air cargo market is characterized by weak demand and excess capacity, maintaining downward pressure on rates,” he said.