Asia-Pacific airlines continued to enjoy double-digit growth in air cargo volumes and to see healthy expansion in air passenger demand in September, even as they operate in an environment of fierce competition and intense pressure on yields, says the Association of Asia Pacific Airlines (AAPA).
International air cargo demand, measured in freight tonne kilometers (FTK), increased by a solid 11.4% in September compared to the same month last year, reflecting the ongoing pickup in global trade across major advanced and emerging market economies, according to AAPA’s latest traffic results. Offered freight capacity grew by 5.7%, resulting in a 3.4 percentage point rise in the average international freight load factor to 66.0% for the month.
Underpinned by robust business and consumer activity, the region’s airlines registered a 5.6% increase in international air passengers carried to a combined total of 25.2 million in September. Demand as measured in revenue passenger kilometers (RPK) increased by 7.5%, underscoring continued strength in long-haul travel markets. The average international passenger load factor edged 0.5 percentage points higher to 78.4% on a 6.8% expansion in available seat capacity.
Commenting on the results, Andrew Herdman, AAPA director general, said, “The global economy is in pretty good shape, with encouraging growth in both international air passenger and cargo demand seen this year.”
Overall, Asia-Pacific airlines carried a combined total of 235 million international air passengers during the first nine months of the year, with international passenger traffic in RPK terms growing by 7.9% compared to the same period last year.
During the same period, Asian airlines recorded a firm 10.7% increase in international air cargo traffic volumes, “a welcome development for Asian carriers which account for nearly 40% of global air cargo traffic,” said Herdman.
Although there has been considerable pressure on yields in a fiercely competitive environment, Asia-Pacific carriers in aggregate are expected to deliver profitability levels similar to last year, AAPA said. “Despite underlying political, economic, and security risks, the region’s carriers are well-placed to capture the market opportunities in an expanding global economy,” it added.
Photo: Michael Rehfeldt
