Preliminary traffic figures from the Association
of Asia Pacific Airlines (AAPA) for the month of August 2019 show
moderate growth in international air passenger markets, in
contrast with further reductions in air cargo demand against a
backdrop of diminishing business confidence levels and significant
declines in international trade volumes.
Overall, Asia Pacific airlines carried a
combined total of 32.6 million international passengers in August, 2.3%
more than the same month last year. In revenue passenger kilometres (RPK) terms, demand grew by 3.1% year-on-year.
average international passenger load factor eased 0.2 percentage
points lower to 82.8% for the month, after accounting for a 3.4%
expansion in available seat capacity.
In contrast to air passenger markets, air cargo
demand in freight tonne kilometres (FTK) fell by 6.4% year-on-year
in August. Subdued demand conditions, with businesses remaining
cautious on their inventories, contributed to the persistent
Combined with a 1.1% increase in offered freight
capacity, the average international freight load factor fell by
4.7 percentage points to 58.3% for the month.
AAPA Director General, said, "The first eight months of the year
saw Asian airlines carry a combined 251 million international
passengers, representing a sustained 4.3 % increase in demand for
international air travel, but growth rates are moderating as
consumers become more cautious about the economic outlook.
Meanwhile, air cargo demand declined by 5.9% during the first
eight months of the year, with business confidence deteriorating
further in August against a backdrop of heightened global trade
tensions. Consumer goods markets continued to expand, but demand
for intermediate goods fell further, contributing to the decline
in air shipments."
Looking ahead, Mr. Herdman said, "Whilst the
long term outlook for air travel remains broadly positive, Asian
airlines continue to face a challenging business environment."