The Association of Asia Pacific Airlines (AAPA) has announced strong growth in international passenger and cargo demand for August 2024, signaling a return to near pre-pandemic levels. The region’s airlines transported a remarkable 32.3 million international passengers during the month, representing a 21.7% increase compared to August 2023. This surge in passenger traffic, now at 96.1% of 2019 levels, is fueled by steady economic growth across Asia and the easing of travel restrictions.
Revenue passenger kilometers (RPK) experienced a substantial 20.7% increase, accompanied by a 19.7% expansion in available seat capacity. This resulted in a slight 0.7 percentage point rise in the average international passenger load factor, reaching 83.2%. The air cargo sector also witnessed a significant uptick, driven by the burgeoning e-commerce industry and disruptions in ocean freight logistics.
International air cargo demand, measured in freight tonne kilometers (FTK), soared by 12.2% year-on-year, exceeding the 10.4% increase in available freight capacity. This surge led to a 0.9 percentage point increase in the average international freight load factor, reaching 59.6%, marking the fourth consecutive month of improvement after a prolonged downturn.
Commenting on these positive results, AAPA Director General Mr. Subhas Menon highlighted the impressive growth in international passenger and cargo demand over the first eight months of 2024. “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. This growth is attributed to increased air connectivity and more lenient visa policies,” Mr. Menon said. He further emphasized the significant surge in international air cargo demand during the same period, which he attributed to “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, Mr. Menon expressed optimism about the future outlook for both passenger and cargo travel. “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 in preparation for the year-end festive season,” he said.
However, Mr. Menon acknowledged ongoing challenges faced by the region’s airlines, primarily stemming from persistent supply chain disruptions. “Nevertheless, persistent supply chain disruptions continue to pose challenges to the region’s carriers. Delays in aircraft deliveries, shortages of spare parts, and a lack of skilled labor have heightened operational pressures, contributing to flight disruptions and further increasing costs. Faced with such external pressures, airlines are carefully managing flight frequencies and schedules, without compromising the industry’s excellent safety standards,” Mr. Menon added.
Despite these challenges, the positive performance in passenger and cargo demand reflects the resilience of the Asia Pacific aviation sector and its ability to navigate complex operating environments. As the region continues to experience economic growth and travel demand remains strong, airlines are poised for continued growth and expansion in the coming months.
