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Asia-Pacific airline association reports “solid expansion in air passenger demand” in traffic update
June 28th 2024
In May, Asia-Pacific airlines flew 27.9 million international passengers, 23.9% more than in the same month last year, an Association of Asia Pacific Airlines (AAPA) update reports. Read More » Revenue passenger kilometers increased 27.4% year-on-year, seat capacity was higher by 26.4%, and average international passenger load factor inched ahead by 0.6 percentage points, to 79.0%, in the 31 days. Air traffic for the month was 89.4% of 2019 levels. “In the first five months of the year, Asia-Pacific airlines carried 144 million international passengers, a 44.8% increase against May 2019,” AAPA director general, Subhas Menon, said. “Encouraging trends in passenger and cargo traffic bode well for the region’s airlines this year, following a strong traffic performance in 2023. However, profit margins remain under pressure, with operating costs impacted by the strong US$ and jet fuel prices averaging above US$100 a barrel in 2024. Overall, airlines remain committed to stringent cost controls alongside a proactive pursuit of growth opportunities,” he said.
