Asia Pacific Airlines traffic results in July 2024

Preliminary traffic figures for July 2024 released today by the Association of Asia Pacific Airlines (AAPA) showed healthy growth in the international passenger aviation markets.

Regional initiatives to encourage travel continued to show positive results, with the relaxation of visa regulations leading to a significant increase in the number of holidaymakers during the peak summer holiday season.

During the month, Asian airlines carried a total of 31.9 million international passengers, an increase of 22.6% year-on-year.

Due to steady growth, traffic volume reached 95.5% of the level of the same month in 2019.

Available seat capacity increased by 21.2%, slightly exceeding the 20.5% increase in demand measured in revenue passenger kilometers (RPK).

As a result, the average international passenger load factor decreased slightly by 0.6 percentage points to 82.6% in July.

Air freight markets continued to benefit from robust e-commerce demand and ongoing disruptions in maritime transport.

International air freight demand in freight tonne-kilometres (FTK) recorded a strong increase of 12.3 percent in July compared to the same period last year, while offered freight capacity increased by 11.0 percent.

This resulted in an increase in the average international freight load factor by 0.7 percentage points to 61.1% for the month.

Mr. Subhas Menon, Director General, AAPA, said: “The strong demand trend of the first half of the year continued in July with Asian airlines reporting growth in both the international passenger and cargo markets.

“Overall, the number of international passengers carried increased by a solid 39% to 208 million in the first seven months of the year, supported by network expansion.

“Accordingly, international air freight demand increased by 15.6% compared to the same period last year, in contrast to the weak figures in the same period last year.”

Looking ahead, Menon said: “Despite ongoing supply chain disruptions, the outlook for travel markets remains positive as airlines in Asia Pacific continue to benefit from robust business and leisure demand. China-based airlines in particular are seeing solid growth in passenger demand as traffic in China recovers, driving overall expansion.”

“In response to passenger demand in a dynamic market, Asian airlines are pursuing new revenue opportunities by introducing innovative products and services.

“At the same time, the region’s airlines continue to focus on improving operational efficiency and intensifying sustainability initiatives without compromising profitability.”