April 02, 2024
Preliminary February 2024 traffic figures released by the Association of Asia Pacific Airlines (AAPA) showed strong growth in both international air passenger and air cargo demand.
Passenger markets were boosted by a surge in leisure travel during the Lunar New Year festive period, while air cargo demand grew as a result of business and e-commerce activity. In aggregate, 27.0 million international passengers were carried by Asia Pacific airlines in February, a 56.7% increase from the 17.3 million recorded in the same month last year.
With inflation levels moderating, rising demand spurred renewed vigour in the global manufacturing sector, supporting further growth in air cargo markets.
As a result, international air cargo demand, as measured in freight tonne kilometres (FTK), increased by 10.2% year-on-year in February. Offered freight capacity expanded by a robust 20.8%, primarily from growth in belly-hold space. Consequently, the average international freight load factor fell by 5.5 percentage points to 57.3% for the month.
Source: AAPA