MANILA – Air cargo traffic in the Asia-Pacific region saw a slight increase for the first time since March last year, thanks to the resumption of commercial activities, according to the International Air Transport Association (IATA).
In a report, IATA noted that the region recorded annual growth of 0.9 percent in July, an improvement from June’s 7.2 percent decline.
“Airlines in the Asia-Pacific region experienced their first annual growth in cargo traffic since March 2022, driven by increased trade with other regions and significant market improvements in Asia,” the statement said.
IATA noted that air cargo traffic was driven by movements on Europe-Asia, Middle East-Asia, Africa-Asia and intra-Asia routes.
Globally, IATA said air cargo capacity has improved due to the “continued restoration of air cargo capacity during the summer season.”
In the first half, Philippine Airlines announced that its cargo revenue fell 51 percent to P3.81 billion “as many cargo charter flights were halted to make way for more passenger flights to meet the increase in demand.
Cebu Pacific, meanwhile, saw its cargo revenue decline 44 percent to nearly P2 billion in the first half due to “decrease in the number of kilograms of cargo transported and lower efficiency of cargo services.” .
Data from the Civil Aeronautics Board (CAB) showed cargo traffic fell 10 percent to 413.39 million kilograms (kg) last year, compared to 460.03 million kg in 2021.
The bulk of these shipments were international shipments, which fell 9 percent to 364.24 million kg during the period. Domestic cargo, meanwhile, fell 18 percent to 49.15 million kg last year.
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