Asia Pacific Air Passenger Markets Report 3.4 Pc Growth: AAPA
International air cargo demand in freight tonne kilometre terms (FTK) fell by 1.9 per cent year-on-year as declines in new export orders affected international trade activity.
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Preliminary traffic figures for November released on Thursday by the Association of Asia Pacific Airlines (AAPA) showed international air passenger markets recorded a further increase in demand, stimulated by the availability of affordable airfares and improvements to connectivity.
On the other hand, demand for air cargo remained subdued in line with weak international trade flows. In aggregate, the region's airlines flew 30.3 million international passengers in November, a 3.4 per cent increase compared to the same month last year. The moderate growth reflects the general slowdown in global economic activity.
The international passenger load factor averaged 80.1 per cent for the month after accounting for a 3.6 per cent increase in demand as measured in revenue passenger kilometres (RPK) and a 2.6 per cent growth in available seat capacity.
During the same month, international air cargo demand in freight tonne kilometre terms (FTK) fell by 1.9 per cent year-on-year as declines in new export orders affected international trade activity.
Offered freight capacity increased by 1.2 per cent year-on-year, resulting in a 2 percentage point decline in the average international freight load factor to 62.9 per cent for the month.
"Asian airlines carried a combined 342 million international passengers during the first eleven months of the year, achieving 4.2 per cent growth despite falling business confidence levels and corresponding moderation in economic activity across regions," said AAPA Director General Andrew Herdman.
Tourism activity continued to lend support to leisure travel with growth within the region boosted by the availability of affordable air fares.
However, air cargo volumes for the first eleven months of 2019 registered a 5.3 per cent decline compared to the same period in the previous year as challenging business conditions resulting from protracted trade disputes dampened demand.
"Asian airlines were particularly vulnerable, given the region's importance in the global manufacturing supply chain. The outlook for air cargo demand remains overshadowed by uncertainty over the resolution of ongoing global trade disputes," said Herdman.