APAC airlines show solid growth in pax and cargo demand for October 2024: AAPA

The Association of Asia Pacific Airlines (AAPA) found that October 2024 traffic figures showed robust travel growth. 

According to the association’s latest report, the progress was fuelled mainly by leisure and corporate travel demands.

International air cargo markets also saw significant growth, supported by businesses restocking inventories in preparation for the year-end holiday season and major online sale promotions.

Asia Pacific airlines’ international passenger numbers increased by 19.0% year-on-year in October 2024, reaching a combined total of 31.0 million. 

Traffic volumes averaged 98.6% of the corresponding month in 2019. Revenue Passenger Kilometres (RPK), a measure of passenger demand, increased by 19.7% year-on-year, reflecting growth in long-haul sectors.

The growth in demand outpaced an 18.6% expansion in available seat capacity, leading to a 0.8% improvement in the average international passenger load factor to 81.2% for the month.

The association said that international air cargo demand in freight tonne kilometres (FTK) for October 2024 rose by 10.9% compared to the same month in 2023. Freight capacity increased by 10.6%, led by continued growth in international belly-hold capacity. 

“October was another strong month for Asia Pacific airlines, with a total of 303 million international passengers carried for the first ten months of the year, a 33% increase compared to the corresponding period in the previous year,” Subhas Menon, Director General of AAPA said in a statement.

Menon also said that the sturdy demand, along with capacity constraints caused by ongoing supply chain disruptions, resulted in an average load factor of 81.5% during the same period

“Cargo demand rose sharply on major trade lanes, driving a 14% increase in international air freight volumes during the first ten months of this year. This was on the back of robust consumer demand and disruptions to maritime shipping due to security risks in the Red Sea,” Menon added.

In conclusion, Menon said that the outlook for travel markets remains positive, buoyed by growing demand in both leisure and business segments. 

However, Menon noted that challenges remain for airlines in meeting the demand, notably due to supply chain disruptions and delays in aircraft deliveries.

RELATED

Asia Pacific airlines remain focused on resolutions amid continued growth

The post APAC airlines show solid growth in pax and cargo demand for October 2024: AAPA appeared first on AeroTime.

Go to Source