ASIA Pacific airlines ended 2022 on a downtrend for air cargo as the sector faced multiple challenges throughout the year, reports Hong Kong's Asia Cargo News.
The end of the year marked the 10th straight month that airlines in the region have seen cargo decline since March 2022.
The Kuala Lumpur-based Association of Asia Pacific Airlines (AAPA) said Asia Pacific airlines saw international air cargo demand - measured in freight tonne-kilometres (FTK) - drop by 8.2 per cent following a robust 20.3 per cent annual increase in 2021.
This follows a 19.2 per cent year-on-year decline in November - usually a peak season month ahead of the holidays. "International air cargo demand weakened in 2022 and continued to face multiple challenges," AAPA said.
"Reflecting falling export orders alongside worsening business and consumer sentiment, international air cargo markets weakened after a relatively steady start to the year," said AAPA director general Subhas Menon, adding that demand fell 20.7 per cent in December, bringing the decline for the full year 2022 to 8.2 per cent.