- About Us
- Image Gallery
- Download Free
Published on : Wednesday, January 27, 2016
For the year under review, the region’s airlines recorded a robust 7.9% increase in the number of international passengers carried to an aggregate total of 276.3 million, boosted by lower oil prices leading to the widespread availability of competitive airfares. The average international passenger load factor increased by 1.4 percentage points to 78.4% for the year, after accounting for an 8.2% increase in demand in revenue passenger kilometre (RPK) terms and a measured 6.3% expansion in available seat capacity.
International air cargo demand, measured in freight tonne kilometres (FTK), registered a 1.6% increase for the year, reflecting the slowdown in global trade conditions. Offered freight capacity increased by 3.5%, leading to a deterioration in the average international freight load factor, by 1.3 percentage points to 63.7% for the year.
Commenting on the results, Mr. Andrew Herdman, AAPA Director General said, “The region’s carriers enjoyed a year of strong growth in international passenger numbers, up 7.9% for 2015, and well ahead of the 4.9% increase recorded the year before. Long haul travel markets prospered on the back of an improvement in economic conditions in selected advanced economies. In addition, Asian regional travel demand grew solidly, despite slowing economic growth and regional currency weakness. Less optimistically, air cargo markets saw only marginal growth for the year 2015, a reflection of the slowdown in global trade.”
Mr. Herdman added, “Asian airlines benefitted in 2015 from the robust growth in international passenger traffic, and significant fall in oil prices, but competitive market conditions continued to restrain margins. Airline profitability was also affected by currency volatility, and variations in individual fuel hedging policies, amongst other factors.”
Looking ahead, Mr. Herdman concluded, “The outlook for air travel markets in 2016 remains broadly positive, although there are some significant risk factors to consider, including increased uncertainty over the regional economic outlook. Asian airlines are closely monitoring market developments, whilst continuing to invest in future growth opportunities.”