Monday, July 29, 2024
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The Association of Asia Pacific Airlines (AAPA) released preliminary traffic data for June 2024 today, revealing strong growth in international air travel as demand surged in anticipation of the peak summer holiday season. International air cargo also saw significant growth, mirroring a rise in manufacturing activity throughout Asia, particularly in China and India.
In June, airlines in the Asia Pacific region experienced a 21.0% year-on-year increase in international passengers, reaching a total of 28.9 million. Traffic volumes for the month were 90.2% of those in June 2019. Revenue passenger kilometres (RPK) grew by 23.8% year-on-year, nearly aligning with the 24.0% increase in available seat capacity. Consequently, the international passenger load factor decreased slightly by 0.2 percentage points to 82.2% for June.
On the cargo front, international demand, measured in freight tonne kilometres (FTK), rose by a notable 16.4% year-on-year in June. This growth was driven by increased e-commerce activity and heightened security concerns in the Red Sea region. Despite a 12.6% rise in offered freight capacity, the average international freight load factor improved by 2.0 percentage points, reaching 62.8% for the month.
Commenting on the results, Mr. Subhas Menon, AAPA Director General said, “Asian airlines are seeing robust traffic growth, in tandem with expansion in global economic activity and improvements to connectivity within the region and globally. In summary, during the first half of the year, the region’s airlines carried a combined total of 173 million international passengers, a 40% increase compared to the same period last year.”
“International air cargo demand grew by 16% during the same period, as a pick-up in export activity, coupled with disruptions to maritime shipping, drove an increase in air freight volumes carried across major trade lanes.”
Looking ahead, Mr. Menon said, “International air passenger and cargo markets are poised for further growth in the latter half of the year, driven by sustained positive momentum in the global economy, despite some uncertainties in the geopolitical landscape. Increased services to new and existing destinations will further boost travel demand, with traffic volumes expected to recover to pre-pandemic levels by the end of the year. Meanwhile, the region’s carriers remain focused on safe and sustainable operations, whilst maintaining cost efficiency.”