News / Profits tumble for Asia Pacific airlines caught in turbulence of US-China trade spat

Asia Pacific airlines saw their profitability decline in 2019, and it could take “years” to recover from the coronavirus pandemic.

The Association of Asia Pacific Airlines (AAPA) said yesterday its members’ combined net earnings dropped 25% last year, and air cargo demand was significantly affected by the escalation of tit-for-tat trade tariffs between the US and China.

“International air cargo traffic, as measured in freight tonne km (FTKs) declined by 5% for the year, the steepest fall since the global financial crisis,” ...