Preliminary full year 2022 traffic results from
the Association of Asia Pacific Airlines (AAPA) show robust
recovery in international passenger markets.
In 2022, Asia Pacific airlines carried a combined
total of 105.4 million international passengers, compared to the
17.4 million passengers recorded in 2021.
By December,
international passengers carried climbed to 47.5% of pre-pandemic
levels, a significant improvement from the 7% recorded in
January. Measured in revenue passenger kilometres (RPK) terms, international passenger demand rose by 439% for the year.
After accounting for an 144%
expansion in available seat capacity, the average international
passenger load factor jumped 39.9 percentage points higher to
average 72.8% in 2022.
“2022 marked the start of a
long-awaited recovery in international travel markets as
governments across the region eased travel restrictions over the
course of the year in a bid to welcome back visitors,” said Subhas
Menon, AAPA Director General. “The release
of pent-up travel demand drove a 507% annual increase in the
number of passengers carried for the year. However, demand in 2022
averaged just 27% of pre-pandemic 2019 levels, underscoring the
significant progress still required towards full recovery.”
In contrast to the
recovery in passenger markets, international air cargo demand
weakened in 2022 and continued to face multiple challenges. A
steep increase in inflation, a strong US dollar and the tightening
of monetary policy across economies led to a slowdown in global
economic activity. Pandemic-related lockdowns in China and the
Russia-Ukraine war also aggravated prevailing supply chain
disruptions.
Against this background,
international air cargo demand recorded an 8.2% decline in 2022,
following a 20.3% annual increase in 2021. Offered
freight capacity expanded by 2.2%, as robust recovery in
commercial passenger operations led to a gradual increase in
available bellyhold space. As a result, the international freight
load factor declined by 7.5 percentage points to average 66.6% for
the year.
“Reflecting falling export orders alongside
worsening business and consumer sentiment, international air cargo
markets weakened after a relatively steady start to the year.
Demand fell by a steep 20.7% year-on-year in December, bringing
the decline for the full year 2022 to 8.2%,” Mr. Menon said. “The outlook for 2023 is broadly
positive, notably for passenger travel. The recovery of passenger
demand is expected to progress further in the coming months,
driven by strong appetite for travel. In particular, the recent
easing of travel restrictions in China will further fuel demand,
although the re-imposition of testing requirements for inbound
travellers by some governments may somewhat slow down recovery in
the shorter term. Asian airlines continue to work closely with
regulators, airports and other stakeholders to serve the
travelling public and deliver a seamless, safe and sustainable
experience.”
