Cargo – Are the good times over, or can the sector continue to profit?
The Asia Pacific is the world’s factory, accounting for more than 40% of global exports of manufactured goods in 2021. With the COVID-19 induced disruption to shipping and supply chains, air cargo had a moment in the sun, reporting two consecutive years of record revenue. With passenger travel largely absent, air cargo was one of the few bright spots for Asia Pacific regional carriers in 2020 and 2021.
However, as passenger traffic comes back and shipping begins to regain some of its competitiveness, cargo sector revenues and profits are slowly coming back to earth. Worse still for Asia Pacific airlines, traditional Western export markets are increasingly moving to bring manufacturing onshore, particularly for high value goods. Geopolitics is also hurting the sector, as the relationship between China and the West becomes ever more frosty and barriers to trade are erected.
- What is the outlook for air cargo in the Asia Pacific?
- How can regional carriers benefit from major trends such as eCommerce, growing Asia Pacific regional consumption and ongoing supply chain instability?
- What does the growing regionalization trend mean for air cargo. Are agreements like the new Regional Comprehensive Economic Partnership (RCEP) going to support regional trade and air cargo?
Moderator: The Chinese University of Hong Kong, Assistant Professor, Faculty of Law, Jae Woon (June) Lee
Panel:
- Cathay Pacific, Regional Head of Cargo, Southeast Asia, Siddhant Iyer
- Teleport, CEO, Pete Chareonwongsak
- IBS Software, SVP for APAC, Gautam Shekar