Asia Pacific Airlines Carried 27.9 Million International Passengers in May 2024

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(27/06/24)
 According to the latest data from the
Association of Asia Pacific Airlines (AAPA), the region’s airlines
carried a combined total of 27.9 million international passengers
in May 2024, 23.9% more than in the same month last year.

Traffic averaged 89.4% of 2019 levels, whilst
demand, measured in revenue passenger kilometres (RPK), grew by
27.4% year-on-year.

After accounting for a 26.4% expansion in
available seat capacity, the average international passenger load
factor edged marginally higher, by 0.6 percentage points to 79%
for the month.

Singapore Airlines A350-900 reg: 9V-SMH. Picture by Steven Howard of TravelNewsAsia.com

“In the first five months of the year, Asia Pacific airlines
carried a total of 144 million international passengers,
reflecting a 44.8% increase compared to the previous corresponding
period. During the same period, international air cargo demand
grew by 16%,” said Subhas Menon, AAPA Director General.

Driven by buoyant trade activity within the region
and globally, Asian carriers saw international air cargo demand,
measured in
freight tonne kilometres (FTK), register a solid 17.9% year-on-year
growth in May.

The average international freight load factor also
climbed higher, by 1.4 percentage points to 61.4%, following a
15.1% expansion in offered freight capacity.

“The current
pick-up in global economic activity, supported by improvements to
business confidence levels and increased consumer spending, has
boosted demand for both international travel and air cargo. Asia
Pacific airlines, being major players in the air cargo markets,
have also benefitted from disruptions to ocean freight services,” Mr. Menon
said. “Encouraging trends
in passenger and cargo traffic bode well for Asian airlines this
year, following strong traffic performance for the year 2023.
However, profit margins remain under pressure, with operating
costs impacted by the strong US Dollar and jet fuel prices
averaging above the US$100 per barrel mark during the first five
months of the year. Overall, Asian airlines remain committed to
maintaining stringent cost controls across their operations,
alongside a proactive pursuit of growth opportunities.”

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