AAPA: Yearend, holiday season demand boosts October airfreight volumes

Asia-Pacific carriers reported a 22.3% year-over-year increase in international cargo demand for October due to ongoing transportation capacity shortages and yearend holiday demand. Available freight capacity also grew in October with a 20% YoY increase, up from September, when AAPA carriers posted a 14.8% increase , the Association of Asia Pacific Airlines (AAPA) reported. In turn, international cargo load factors were up 1.4 percentage points to 74.2% in October. [caption id="attachment_91809" align="alignright" width="452"] Loading pharma cargo onto a 777F. Photo/Korean Air[/caption] “Whilst October continued to be an extremely challenging month for international travel markets, solid orders for consumer goods and industrial components buoyed air cargo demand, especially as retailers sought to increase stock levels ahead of the year-end holiday season and major shopping events,” AAPA Director General Subhas Menon said in the release. “In addition, supply chain congestion at some shipping hubs boosted demand for air shipments.” Meanwhile, passenger aircraft belly capacity remains depressed as COVID-19 restrictions continue to limit international passenger travel, according to the AAPA. Although there have been some eased border restrictions, widespread return of passenger belly capacity has yet to be seen. To combat supply chain congestion and capacity shortages, air cargo stakeholders in and outside the region have launched various charters and routes to help increase long-haul capacity in the Asia-Pacific. Earlier this month Cainiao Network and Atlas Air expanded their existing partnership to offer daily flights between Hong Kong (HKG) and Santiago (SCL) , increasing volume between the two regions by 144% compared to October 2020. Hong Kong-based forwarder Kerry Logistics Network and Malaysian cargo carrier My Jet Express Airlines also expanded their existing partnership this month to launch additional scheduled services and charters from Kuala Lumpur to various destinations in the region to support the surge in e-commerce demand. Meanwhile, some airports based in the Asia-Pacific region have reported elevated cargo volumes for October , despite the lack of passenger belly capacity. Airports reporting upticks in cargo throughput include HKG, which saw a 7.9% increase in volumes in October compared to the same month in 2019, and Incheon International Airport (ICN), which posted a 16.5% increase in volumes compared to October 2019.

AAPA: Yearend, holiday season demand boosts October airfreight volumes

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