Asian Airlines show healthy cargo growth in 2014

Preliminary figures from the Association of Asia Pacific Airlines indicate a 5.4 percent increase in air freight from 2013.    According to preliminary figures released by the Association of Asia Pacific Airlines, air cargo markets rebounded in 2014 after three consecutive years of declining demand.
   In December 2014, AAPA member airlines moved 5.57 million freight ton kilometers of cargo, up 6.5 percent year-over-year from 5.23 million FTK in December 2013.
   For the full year, AAPA member airlines moved 63.18 million FTK, up 5.4 percent from 59.96 million FTK in 2013. AAPA attributed the growth to an “upsurge in exports from manufacturing hubs in the region” in a statement by the trade association.
   Freight capacity of AAPA airlines grew from 93.48 million available FTK (FATK) to 97.23 million FATK in 2014, an increase of 4.1 percent. As a result, the average international freight load factor increased from 64.1 percent to 64.9 percent.
   AAPA Director General Andrew Herdman noted “Air cargo markets experienced a welcome upswing in 2014, with the second half of the year registering 6.0 percent growth compared to the same period in 2013, following several years of stagnant demand.
   “The dramatic fall in oil prices since the end of the year has been welcomed by many airlines, although the resultant benefit in terms of improved profitability will vary depending on individual airline hedging policies and their degree of exposure to external debt, given the weaker Asian currencies,” Herdman added.
   Kuala Lumpur, Malaysia-based AAPA is the trade association for scheduled international airlines based in the Asia-Pacific region. Its members include Air Astana, All Nippon Airways, Asiana Airlines, Bangkok Airways, Cathay Pacific Airways, China Airlines, Dragonair, EVA Airways, Garuda Indonesia, Japan Airlines, Korean Air, Malaysia Airlines, Philippine Airlines, Royal Brunei Airlines, Singapore Airlines and Thai Airways International.