KUALA LUMPUR, 1 October 2024: Preliminary August 2024 traffic figures released Monday by the Association of Asia Pacific Airlines (AAPA) revealed robust growth in international air passenger demand, even as traffic volumes approached pre-pandemic levels.
Due to the region’s resilient economic growth, Asia Pacific airlines collectively carried 32.3 million international passengers in August, reflecting a 21.7% year-on-year increase compared to the same month last year. Traffic in the region had nearly resumed to pre-pandemic levels, at 96.1% of 2019 volumes. Demand in revenue passenger kilometres (RPK) increased by 20.7% while available seat capacity expanded by 19.7% year-on-year, leading to a 0.7 percentage point increase in the average international passenger load factor to 83.2% for the month.
Despite signs of moderation in the broader manufacturing sector, the surge in e-commerce demand out of the major manufacturing hubs in the region drove air cargo volumes higher. As measured in freight tonne kilometres (FTK), international air cargo demand recorded a 12.2% year-on-year increase, outpacing the 10.4% expansion in offered freight capacity. As a result, the average international freight load factor rose by 0.9 percentage points to 59.6% for the month, marking the fourth consecutive monthly increase after more than two years in decline.
Commenting on the results, AAPA Director General Subhas Menon said: “During the first eight months of the year, the region’s carriers saw a 36% growth in the number of international passengers carried, reaching a total of 240 million, boosted by increased air connectivity and less restrictive visa policies.”
“During the same period, international air cargo demand surged by 15% year-on-year, driven by several key factors, including a thriving e-commerce sector. Disruptions in ocean freight logistics also encouraged modal shifts from sea to air, as businesses sought faster and more reliable transport alternatives.”
Looking ahead, Menon noted: “Supported by ongoing expansions in connectivity, travel demand is expected to remain healthy on routes within and across the regions. Similarly, the outlook for air cargo markets is positive, with businesses replenishing inventories for the year-end festive season.”
Menon added: “Nevertheless, persistent supply chain disruptions continue challenging the region’s carriers. Delays in aircraft deliveries, shortages of spare parts, and lack of skilled labour have heightened operational pressures, contributing to flight disruptions and further increasing costs. Faced with such external pressures, airlines carefully manage flight frequencies and schedules without compromising the industry’s excellent safety standards.”
