AAPA: Sustained growth in international passenger markets

No post image

International air passenger markets showed sustained growth in November underpinned by continued strength in the global services sectors, according to preliminary traffic figures released today by the Association of Asia Pacific Airlines (AAPA).

The region’s airlines carried a combined total of 29 million international passengers in November 2018, representing a 6.2 per cent increase compared to the same month last year.

Measured in revenue passenger kilometres (RPK) terms, demand increased by 6.5 per cent, reflecting relative strength on long haul markets. Available seat capacity expanded by six per cent, resulting in a slight increase in the average international passenger load factor, by 0.3 percentage points to 79.3 per cent for the month.

AAPA director general, Andrew Herdman said: “Business and leisure travel markets continued to expand at an encouraging pace for the region’s airlines, on the back of continued global economic expansion and rising regional living standards. Overall, for the first eleven months of the year, Asian airlines registered a healthy 7.1% increase in the number of international passengers carried to an aggregate total of 325 million.”

Looking ahead, Herdman said: “Overall prospects remain relatively positive. Continued moderate growth in the global economy and lowered oil prices should support further expansion in air travel demand and air cargo markets in the coming year, although the recent deterioration in trade sentiment and uncertainties over the potential impact on consumer confidence levels present some downside risks.

“Overall, Asian airlines continue to exercise vigilance in monitoring any changes in market conditions, whilst seeking growth opportunities.”