ASIA
Pacific carriers achieved a 13.9 per cent year-on-year increase in
international air cargo demand in 2024 and a 10 per cent rise in cargo
revenue.

A
surge in e-commerce activity and disruptions to maritime shipping
contributed to the 13.9 per cent demand increase, as measured in freight
tonne kilometres (FTK), following two consecutive years in decline,
according to preliminary figures released by the Association of Asia
Pacific Airlines (AAPA).



Meanwhile,
cargo revenue climbed by 10.3 per cent to US$23.2 billion, although
there was a 3.2 per cent decline in air cargo yields to 32.7 US cents
per FTK.



Overall, Asia Pacific carriers
achieved $7.3 billion in combined net profits in 2024, supported by
strong growth in passenger traffic and a marked recovery in cargo
volumes.



Combined operating expenses
rose by 8.4 per cent to $199.8 billion for the year, due mainly to a
10.1 per cent increase in non-fuel expenditure to $138.9bn



Operating costs last year were exacerbated by ongoing supply chain constraints, the AAPA said.



Persistent
supply chain challenges, including shortages of spare parts, aircraft
delivery delays and aircraft groundings due to engine issues, drove up
maintenance and leasing costs. Inflationary pressures also contributed
to higher staff expenditure and airport charges.



Looking
ahead, Subhas Menon, AAPA director general, said: "The region's
carriers continue to face considerable headwinds, including elevated
operating costs and ongoing supply chain disruptions.



"Geopolitical
tensions may lead to renewed volatility in oil and currency markets
while air cargo markets may soften further, as uncertainties over trade
negotiations dampen demand for air shipments," he said.