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(30/05/23)
 Preliminary traffic figures from the Association
of Asia Pacific Airlines (AAPA) show continued recovery in
international passenger demand in April 2023, reflecting the
unabated appetite for travel in the region.

Collectively, Asia Pacific airlines recorded a
249.8% year-on-year increase in the number of international
passengers carried to a total of 20.3 million in April, with
demand averaging 63.3% of the corresponding month in 2019.

Measured in revenue passenger kilometres (RPK),
demand grew by 198.9% compared to the same month last year, while
available seat capacity grew by 150.2%, raising the average
international passenger load factor by 13 percentage points to 80%
for the month.

Meanwhile, export activity remained relatively
muted, held back by declines in new business orders and trade
barriers due to geopolitical tensions. The easing of supply chain
pressures globally also encouraged a shift to maritime shipping.

Against this background, air cargo demand as
measured in freight tonne kilometres (FTK) fell by 5.5%
year-on-year in April. As offered freight capacity continued to
increase 10.4%, the average international freight load factor
declined markedly by 10.1 percentage points to 59.8% for the
month.

“The recovery in Asian travel markets is still
strong, with traffic flows within the region and from the region
experiencing robust growth. Overall, during the first four months
of the year, Asia Pacific airlines carried a total of 74.2 million
international passengers, a strong 438% year-on-year jump compared
to the previous corresponding period,” said Subhas Menon, AAPA
Director General. “By contrast, air cargo markets fell 11% during
the same period, underlining the challenging business environment
amid rising uncertainty in global economic conditions.”

Looking Ahead

“Growth prospects for international passenger
markets remain healthy, supported by positive trends in forward
bookings over the coming months. While global economic growth is
expected to moderate, the International Monetary Fund (IMF) has
projected Asia Pacific economies to record a combined 4.6%
increase in GDP this year, up from 3.8% in 2022, with domestic
demand supporting growth in business and leisure travel,” said Mr.
Menon. “To meet strong recovery in demand, Asian airlines are
working with aviation stakeholders to restore flights to various
destinations, while prioritising safety, sustainability, and
travel convenience. Measures include staff recruitment, training,
and investments in the digitalisation of the travel process, to
upkeep the service standards for which the region’s airlines are
known.”

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