Monday, January 15, 2024
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The Association of Asia Pacific Airlines (AAPA) expects full recovery of air travel to pre-pandemic levels in 2024.
So, the outlook for air travel demand remains positive.
AAPA Director General Subhas Menon said Asia Pacific airlines saw a healthy growth in international passenger demand throughout 2023.
It is in line with the restoration of flight frequencies and connectivity.
Nevertheless, amid intensifying competition, airlines continue to be vigilant over costs.
There are certainly fluctuations in oil prices as well as exchange rate volatility. He said this in a statement.
AAPA’s preliminary report showed that international passenger markets showed solid expansion in November 2023.
Healthy travel demand is driven by continued recovery in tourism across the region.
It said a total of 25.1 million international passengers flew on Asia Pacific airlines from January to November 2023.
This is representing a strong 76.9 per cent increase in comparison with November 2022 and 80.9 per cent in the same month in 2019.
Traffic in revenue passenger kilometres (RPK) rose by 66.9 per cent year-on-year outpacing a 61.3 per cent expansion in available seat capacity.
Passenger load factor stood at 79.6 per cent in Nov 2023.
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Tags: air travel, Association of Asia Pacific Airlines (AAPA)