The Association of Asia Pacific Airlines (AAPA)
has reported that preliminary data for June 2024 shows robust
growth in international air passenger markets, fuelled by healthy
demand for air travel approaching the peak summer holiday season.
Overall, Asia Pacific airlines carried a combined
total of 28.9 million international passengers during the month, a
21% year-on-year increase and 90.2% of the corresponding month in
2019.
Demand in revenue passenger kilometres (RPK) grew by 23.8% year-on-year, almost matching the
24% expansion in available seat capacity. As a result, the
international passenger load factor edged 0.2 percentage points
lower to average 82.2% in June.
International air cargo demand also expanded
strongly during the month, in tandem with a pick-up in manufacturing activity
across the Asian economies, including China and India.
International air cargo demand, as
measured in freight tonne kilometres (FTK), increased by 16.4% year-on-year in June. Rising e-commerce appetite
and security concerns in the Red Sea spurred demand for air
freight shipments. After accounting for a 12.6% growth in offered
freight capacity, the average international freight load factor
climbed 2.0 percentage points higher to average 62.8% for the
month.
“During the first half of the year, the region’s
airlines carried a combined total of 173 million international
passengers, a 40% increase compared to the same period last year. International air cargo demand grew by 16% during
the same period,” said Subhas Menon, AAPA Director General. “International air
passenger and cargo markets are poised for further growth in the
latter half of the year, driven by sustained positive momentum in
the global economy, despite some uncertainties in the geopolitical
landscape. Increased services to new and existing destinations
will further boost travel demand, with traffic volumes expected to
recover to pre-pandemic levels by the end of the year. Meanwhile,
the region’s carriers remain focused on safe and sustainable
operations, whilst maintaining cost efficiency.”
