Sky Soars: Asia Pacific Airlines report impressive surge in November 2023 traffic results

Tuesday, January 9, 2024

The Association of Asia Pacific Airlines (AAPA) has released preliminary traffic figures for November 2023, revealing robust expansion in international passenger markets. The data shows a significant 76.9% increase in international passengers on Asia Pacific airlines compared to November 2022, totaling 25.1 million passengers. This represents 80.9% of the levels observed in the same period in 2019.

The growth is evident in revenue passenger kilometres (RPK), which increased by 66.9% year-on-year, surpassing the 61.3% expansion in available seat capacity. Consequently, the average international passenger load factor climbed by 2.7 percentage points to reach 79.6% for the month.

In the air cargo sector, there was a notable uptick in growth after a period of subdued demand. International air cargo demand, measured in freight tonne kilometres (FTK), experienced an 8.4% year-on-year increase in November. However, the international freight load factor slightly decreased by 1.5 percentage points to an average of 62.0% for the month, despite an 11.0% expansion in offered freight capacity.

Mr. Subhas Menon, AAPA Director General, commented on the results, stating that Asia Pacific airlines carried a total of 250 million international passengers during the first eleven months of 2023, reflecting a substantial 178% increase compared to the same period the previous year.

Regarding air cargo markets, Mr. Menon noted a 4.2% overall decline in demand for the first eleven months of 2023, despite some growth in volumes since September due to higher demand for consumer goods ahead of the year-end festive period.

Looking ahead, Mr. Menon emphasized that Asia Pacific carriers experienced healthy growth in international passenger demand throughout the year, despite a slowdown in global economic activity and increased geopolitical tensions. While air cargo markets have improved, uncertainties persist, with new export orders still declining. Overall, the outlook for air travel demand remains positive, with a full recovery to pre-pandemic levels expected in 2024. Nevertheless, airlines remain vigilant over costs amid intensifying competition, given fluctuations in oil prices and exchange rate volatility.

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