Asia Pacific air cargo demand slumps 19% in May, but load factor up marginally

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Preliminary May 2020 traffic figures released by the Association of Asia Pacific Airlines (AAPA) showed that the COVID-19 pandemic continued to weigh heavily on the region’s air passenger and cargo markets.

Air cargo demand, as measured in freight tonne kilometres (FTK), fell by 19% year-on-year. With offered freight capacity decreasing by 20.1% for the month, the average international freight load factor rose just marginally, by 0.9% to reach 60.9%, reflecting the capacity crunch experienced in preceding months as a result of the sharp declines in belly-hold space on passenger aircraft.

Subhas Menon, AAPA, Director General said, “The plunge in passenger demand in the month of May, and decline in air cargo volumes, underscore the immense challenges that airlines are facing. Overall, the region’s carriers transported more passengers and cargo compared to the previous month. But the prognosis for the industry as well as tourism and trade, remains grim.”

“With recent consumer surveys indicating an increasingly cautious stance on air travel, the return to normalcy will likely proceed slowly, reflecting the uncertainty in the outlook, as States remain wary about lifting restrictions and continue to impose onerous conditions on travel,” Menon added.

“We are hopeful that governments will act quickly to coordinate measures based on objective risk assessments that safeguard the health and well-being of the travelling public, for recovery of aviation to begin in earnest. The recently announced Take-off guidance issued by the ICAO Aviation Recovery Task Force (CART) provides a comprehensive set of measures which should be adopted consistently across States. CART anticipates that flights will restart in phases, initially between States where containment of the virus is apace, and public health capability, adequate. AAPA remains committed to working closely with industry stakeholders to see the timely, safe and convenient recommencement of air travel in the Asia Pacific region,” Menon concluded.

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