Today the Association Asia Pacific Airlines (AAPA) released its traffic results for the month of July, indicating a 5 percent growth in freight tonne kilometers (FTKs) among member airlines.
“For the upcoming months, the global economic outlook remains positive, despite some concern that uncertainties over future trade policy could undermine business confidence international,” said Andrew Herdman, AAPA director general, referring to tariffs that have been imposed by President Trump.
The industry has been anticipating a potential domino effect following the President’s March announcement of a slew of new tariffs on foreign imports, which were answered by additional tariffs from other countries on American exports.
The WorldACD report for June indicated that airborne exports from China and the U.S. dropped 6 percent during the month, seeming to underpin the theory that the industry reaction would manifest in a contraction of trans-Pacific trade. However, this AAPA report suggests that, if an airfreight Armageddon is approaching, the industry has yet to feel any ill effects as of the end of July.
“Both the United States and China have announced expansionary fiscal measures, which should stimulate domestic demand in the advanced and emerging market economies, and hopefully mitigate any adverse impact from new tariff barriers,” Herdman continued, although he was not explicit about the specific measures to which he was referring.
Learn more about the state of the trans-Pacific air freight market on 10-12 October at Cargo Facts Symposium during the panel Air Cargo 2019: Will the peak march on? For more information, or to register, visit www.cargofactssymposium.com.
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