AAPA: International PAX markets expand at an encouraging pace in October

posted on 28th November 2018 by Justin Burns
AAPA: International PAX markets expand at an encouraging pace in October

A growing global economy and improvements in connectivity helped international air passenger markets expand at an encouraging pace in October, according to figures releases today by the Association of Asia Pacific Airlines (AAPA).

The number of international passengers carried by Asia Pacific airlines climbed six per cent higher to a combined total of 29.5 million for the month.

Demand in revenue passenger kilometres (RPK) terms increased by 6.2 per cent, ahead of the 5.7 per cent expansion in available seat capacity. As a result, the average international passenger load factor edged 0.4 percentage points higher to 78.9 per cent in October.

AAPA director general, Andrew Herdman said: “The global economy continued to expand moving into the fourth quarter, with further strengthening of global services activity but somewhat slower expansion in the global manufacturing sectors. Together with improvements in connectivity, these factors supported the continued growth in air traffic demand for Asian carriers.

“Overall, for the first ten months of the year, Asian airlines reported a healthy 7.2% increase in the number of international passengers carried to an aggregate total of 296 million. International air cargo traffic carried by Asian airlines recorded 4.8% growth during the the same period.”

Looking ahead, Herdman said: “Prospects for further growth in air travel demand and air cargo markets remain positive. Geopolitical risks and uncertainty over unresolved trade tensions are a concern, but consumer confidence levels remain relatively robust.

“Overall, the region’s carriers remain focused on strengthening financial performance through operational efficiency gains, whilst delivering high levels of customer service.”