As the month-on-month decline in growth continues, Asia Pacific carriers recorded a 3.4% year-on-year increase in air cargo demand, measured in FTKs, down from 4.9% in May.The average international freight load factor declined by 1.9 percentage points to 64.5%, on the back of a 6.4% expansion in offered freight capacity.
The AAPA puts the "moderate pace" of growth in international air cargo demand down to the "underlying trade conditions," with the global manufacturing sector experiencing slower growth in June.
Passenger traffic fared a little better. "Overall, the first half of the year saw the region's airlines register a solid 8% increase in the total number of international passengers carried to 176m," said AAPA Director General, Andrew Herdman.
"Within the same period, international air cargo demand registered an encouraging 5% increase, bolstered by further expansion in the manufacturing sectors, although growth in new export orders has slowed in recent months."
Herdman was optimistic that global economic prospects remain positive despite concerns surrounding the potential adverse effects of trade tariffs. "Airfares are edging higher reflecting the impact of higher fuel prices this year, but demand conditions remain relatively favourable," he commented.