The Asia Pacific air cargo market maintained its momentum in May, driven by strategic shipment front-loading and a shift in trade routes from China to other Asian markets. However, the pace of growth showed signs of easing.
According to the Association of Asia Pacific Airlines (AAPA), international air cargo demand—measured in freight tonne kilometers (FTK)—rose by 3% year-on-year in May.
Freight Capacity on the Rise
While export volumes on the China-US route softened, partly due to changes in e-commerce regulations like the removal of de minimis thresholds, this was balanced by increased shipments to alternative markets across the region. These trends mirrored the operating conditions reported by AAPA in April.
Freight capacity also saw a modest 1.3% year-on-year increase, nudging the average international freight load factor up by one percentage point to 62.8% for the month.
2025 Outlook: 4.5% Growth in Air Cargo
Despite the steady growth, the overall pace has moderated, reflecting weaker export activity from key manufacturing hubs. Still, the broader picture remains optimistic.
Subhas Menon, AAPA’s Director General, highlighted the resilience of the sector, stating: “In the air cargo markets, international freight demand registered 4.5% growth over the first five months of the year, buoyed by front-loading of shipments and the rerouting of goods to alternative gateways amidst mounting economic headwinds.”
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