KUALA LUMPUR, Oct 3 — Asia-Pacific airlines saw their air cargo volume, measured in cargo tonne-kilometres (CTKs), increase by 4.9 per cent in August 2023 compared to the same month in 2022, the International Air Transport Association (IATA) announced.
This was a significant improvement compared to July’s 2.3 per cent, it said.
“Carriers in the region benefitted from growth on two major trade lanes: Europe-Asia (up from 3.1 per cent in July to 8.8 per cent in August) and Middle East-Asia (up from 2.7 per cent in July to 3.5 per cent in August),” said IATA, which represents some 300 airlines comprising 83 per cent of global air traffic.
Additionally, the within-Asia trade lane also performed better in August, with international CTKs contracting by 4.7 per cent compared to the 9.7 per cent annual decline in July.
Available capacity for the region’s airlines increased by 28.5 per cent compared to August 2022 as more belly capacity came online from the passenger side of the business.
On the global front, year-on-year air cargo demand grew for the first time in 19 months, according to IATA.
“Global demand increased by 1.5 per cent compared to August 2022 levels (1.2 per cent for international operations). Air cargo demand grew by 1.5 per cent over the previous August. This is the first year-on-year growth in 19 months, which is welcome news. But it is off a low 2022 base, and market signals are mixed.
“Looking ahead, while many uncertainties remain, we can take some optimism from purchasing managers index data moving towards positive territory. This is particularly significant as we head into air cargo’s traditional peak year-end season,” said IATA director-general Willie Walsh.
— Bernama
