Preliminary traffic figures from the Association
of Asia Pacific Airlines (AAPA) show that international air travel
continued to grow strongly in October 2022 driven by pent-up
demand.
Asia Pacific airlines carried a combined total of
12.1 million international passengers in October, an eight-fold
increase compared to the 1.4 million in the same month last year. Overall, passenger traffic volumes reached 38.6%
of pre-pandemic levels.
Demand, measured in revenue passenger kilometres (RPK), surged by 604.7% year-on-year, outpacing
the 194.3% expansion in available seat capacity. As a result, the
average international passenger load factor more than doubled to
77.7% for the month.
Subhas Menon, AAPA
Director General said, “The lifting of travel restrictions in
North East Asia in October 2022 was welcomed by the travelling
public and the region’s airlines which saw substantial
improvements to load factors. Overall, during the first ten months
of the year, the combined 74 million international passengers
carried by Asian airlines represented a 472% increase compared to
the previous corresponding period.”
International air cargo demand, measured in
freight tonne kilometres (FTK), declined by 13.9% year-on-year, amid a downturn in export markets for intermediate goods.
Offered freight capacity fell marginally, by 1.2% year-on-year,
leading to a 9.6 percentage point fall in the average
international freight load factor to 64.7%.
“Air cargo markets moderated even
more as a result of multiple headwinds,” Mr. Menon said. “Declining business
confidence, against a backdrop of rising risks to the global
economy, led to a slowing in orders for manufactured goods, in
turn driving a 5.5% year-on-year decline in air cargo demand for
the first ten months of the year.”
“Based on forward
booking trends, the outlook for travel remains positive as we
approach the final months of the year,” said Mr. Menon. “While the
recovery in air travel is welcome relief for the industry, the
region’s airlines are facing a challenging operating environment,
as a result of high fuel prices, weak local currencies and
manpower shortages. Nevertheless, AAPA remains committed to
ensuring the safe, seamless and sustainable restoration of air
travel.”
Earlier this month, Air India became the first
Indian airline to join AAPA, an important boost for the
association which has lost a couple of key airline members in
recent years.
