Southeast Asia freighter growth cools

Dedicated freighter growth across Southeast Asia slowed over the past twelve months as demand for air cargo stabilized. The lift capacity created by new entrants and existing all-cargo, combination and express carriers, including the return of passenger service with belly capacity, led some airlines to park some aircraft while others ceased operations. Cargo Facts recorded sixty-seven freighters in service with twenty carriers in Southeast Asia as of July 31, a year-over-year decrease of four, while the number of operators dropped by two YoY. The ten freighter types registered in the five countries — Indonesia, Malaysia, the Philippines, Singapore and Thailand — vary from the 747-400 down to the ATR 72. The fleet total includes aircraft that are with new operators but have not yet begun commercial service. In the narrowbody space, the A321F contingent doubled in size to six while the number of 737-800Fs fell by one to twelve. In the widebody segment, two more 777Fs were introduced to the Southeast Asia market over the past twelve months. Southeast Asia freighter fleet as of 7/31/2024 Indonesia continues to be home to the most freighters in Southeast Asia and Philippines has the fewest. Indonesia Approximately 54% of the narrowbody freighters providing lift capacity across Southeast Asia as of July 31 were domiciled in Indonesia and registered to nine Indonesian carriers, accounting for twenty-six of the sixty-six units throughout the region. The number of air cargo operators and freighters in the country each decreased by one compared to a year ago. [caption id="attachment_56869288" align="alignright" width="1552"] Asia Cargo Network set up RGA-Black Stone Airlines in early 2022. (Courtesy/Asia Cargo Network)[/caption] The 737 Classic remains the dominant freighter type in Indonesia with twenty 737-300Fs registered to seven carriers. Only three 737-400Fs operate in Indonesia, all with My Indo Airlines. Another new player is joining the market: Airnesia Royal Cargo expects to begin service soon with its 1994-vintage 737-300F (27362, ex-Central Airlines) as it enters the final phase of its approval process with the Directorate General of Civil Aviation in Indonesia. However, even as Airnesia awaits its AOC, startup Raindo United Services ceased operation less than a year after obtaining certification and recently returned the two 2007-vintage 737-800BCFs (32685, ex-Neos, and 32690, ex-AnadoluJet) it had leased from AerCap. My Indo Airlines grew its 737 Classic freighter fleet from six to seven aircraft by adding one 737-400F (27143) and one -300F (23448). Both of those freighters previously flew with Malaysia-based affiliate My Jet Xpress. Malaysia My Jet Xpress has also left the list as it has parked all of its freighters, but the carrier’s resurrection is possible after parent Airmark Aviation sold 90% of its shares in it, along with the AOC, to charter provider Transonic Jet in the first quarter. Still, Malaysia led all Southeast Asian countries in the transition to next-generation freighters with six A321Fs and 737-800BCFs each as of July 31. [caption id="attachment_56869289" align="alignright" width="2560"] Raya Airways was the first A321F operator in Southeast Asia. (Photo/Cargo Facts)[/caption] AirAsia and its logistics subsidiary Teleport took delivery of its third A321-200P2F on lease from BBAM in late 2023, while Raya Airways incorporated a mix of A321Fs into its fleet in 2023, with two A321-200PCFs (1887 and 1972, both ex-Thomas Cook Airlines) on lease from CAM and one A321-200P2F (1293, ex-Sky Angkor Airlines) from Juniper Aviation Investments. Like its six A321 freighters, Malaysia’s six 737-800Fs — all BCFs — are split evenly between two carriers. Kargo Xpress entered service with its third 737-800BCF in January 2023 after leasing the aircraft from Ireland-based Genesis in December 2022. World Cargo Airlines soon followed, taking delivery of its third 737-800BCF in the first quarter of 2023 on lease from BBAM. Philippines Apart from Indonesia and Malaysia, the Philippines also lost a freighter operator; Cebu Pacific previously operated two large-cargo-door ATR 72-500Fs it had converted from its own passenger fleet until it parked the 2008-vintage freighters (820 and 828) in 2023. The carrier is reportedly offering them for sale. For now, narrowbody jet freighters will be the only cargo aircraft in the Philippines, and with the departure of Cebu Pacific came the arrival of new carrier Skyway Airlines . The startup is developing its fleet around 737s and will use its 1998-vintage 737-400BDSF (29208, ex-ASL Airlines Belgium), which arrived in June on lease from AerCap, to provide ad-hoc domestic service and international charters. Skyway Airlines has also entered discussions with Boeing to certify the 737-800 freighter in the Philippines. Meanwhile, SEAir International continues to offer dedicated freighter service with a 1983-vintage 737-200F. Thailand Just north of Malaysia and west of the Philippines, Thailand-based carriers K-Mile Asia and Budget Lines both serve the market with Boeing narrowbody freighters, although the latter appears to have returned one of its two 737-800BCFs (33551, ex-Ryanair) to BBAM earlier this year, less than a year after obtaining its AOC from the Civil Aviation Authority of Thailand in mid-September 2023. K-Mile mostly operates its two 737-800BCFs and three 737-400SFs on behalf of DHL. Thailand is making room for a third freighter carrier after Pattaya Airways recently obtained its AOC . The startup will provide air cargo services with two bulk-configuration, 2007-vintage ATR 72-500Fs it leased from ACIA Aero Leasing earlier this year. In the next twelve months, Cargo Facts expects to see the Southeast Asian freighter fleet undergo further change in size and shape. Notably, K-Mile hopes to start flying its — and Southeast Asia’s — first 767-300 freighter by yearend. While more latest-generation narrowbody freighters are likely to start flying in the region, it is almost certain more 737 Classics will join the active fleet as they continue to exit service in markets like Europe and China. The 30th Cargo Facts Symposium will take place Oct. 14-16 at the Omni Hotel in San Diego. Gain valuable insights, success strategies and networking opportunities at this special anniversary event. Learn more and register today to take advantage of our early-bird sale.

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