Business Digest
Passenger demand hits new high
December 1st 2013
Asia-Pacific airlines’ international passenger traffic continued to grow in August, with 20 million passengers carried for the month, an 8.7% increase compared with the same period last year. Revenue passenger kilometres (RPK) for international passenger traffic grew by 8.2%, while available seat capacity expanded by a more conservative 5.5%. Read More » The adjustment resulted in a 2.0 percentage point increase in average international passenger load factor, to 82.4%, for the reported month.
Underpinned by sustained regional economic growth, Asia-Pacific carriers transported 145.5 million international passengers during the eight months to August, which was a 5.2% increase over August in 2012. International passenger demand in RPKs grew by 4.7% during the same period. Available seat capacity expanded by 4.1% in the same period. The average international passenger load factor edged up 0.4 percentage points, to 78.6%, for the cumulative period. This was below the global average of 84.0%.
Air cargo still stuck in doldrums
In August, Asia-Pacific airlines saw a marginal 0.5% year-on-year increase in air cargo demand, as measured in freight tonne kilometres (FTK). But compared with the previous month, air cargo demand declined by 2.1%. Offered freight capacity increased by 3.1% year-on-year, leading to a 1.7 percentage point fall in the average international air cargo load factor, to 63.0%.
During the eight months to August 31, air freight demand declined by 1.6%, as a result of lacklustre trade growth and relatively weak markets for electronic products and other high value goods normally shipped by air. Nevertheless, there are some tentative signs that the weakness in air cargo of the past few years may have bottomed out. Volumes have stabilised over the past few months, with small month-on-month increases reported in May (+1.7%), June (+1.8%) and July (+0.7%). Available freight capacity fell marginally, by 0.1%, which produced a 1.0 percentage point contraction in the average international freight load factor, to 65.1%. Nevertheless, the regional results remains significantly higher than the global average international freight load factor of 48.3%.
Early figures for September recorded that Asia-Pacific airlines grew, with an increase 8.2% in international passengers carried, to an aggregate total of 18.0 million for the year, a result underpinned by robust leisure and business travel. Revenue passenger kilometres (RPK) grew by 8.2%, while capacity was up 5.2%, leading to a 0.8 percentage point increase in the average international passenger load factor, to 78.4%, for September.
Freight Tonne Kilometres (FTK) at Asia-Pacific airlines declined by 2.1% for the month, compared with September last year, which was a continuation of the prolonged weakness of the air cargo market in the last two and a half years. Offered freight capacity increased marginally, by 0.8%, which led to a 1.9 percentage point contraction in the average international freight load factor, to 64.8%, for the month.
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This report was compiled by the Research and Statistics Department of the AAPA Secretariat.
