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(28/06/23)
The Association of Asia Pacific Airlines’ (AAPA)
preliminary traffic figures for May 2023 show that international
passenger markets continue to grow strongly amidst the restoration
of flights in the region.
The region’s carriers registered a 193.2%
year-on-year increase in the number of international passengers
carried to 21.4 million in May. As a percentage of the
corresponding month in 2019, demand averaged 68.5%. As measured in revenue passenger kilometres (RPK),
demand climbed 162.5%, outpacing the 142.6% expansion in available
seat capacity. As a result, the average international passenger
load factor increased by 5.9 percentage points to 77.9% for the
month.
Singapore Airlines A380 reg: 9V-SKT landing at London Heathrow on 20 June 2023. Picture by Steven Howard of TravelNewsAsia.com
On the other hand, subdued demand conditions,
driven by weak business confidence levels adversely impacted air
cargo markets. In freight tonne kilometres (FTK) terms, air cargo
demand fell by 7% year-on-year in May. Offered capacity rose by
6%, leading to an 8.5 percentage point decline in the average
international freight load factor to 60.1% for the month.
“Strong travel appetite continued to spur
recovery in passenger demand which grew by nearly three times in
May, with both premium and leisure segments on the rise. Air cargo
demand remained soft, reflecting the prevailing weak global
economic conditions and in particular, the slowdown in the
manufacturing sector,” said Subhas Menon, AAPA Director General.
“Trade tensions are likely to weigh down on cargo markets for some
time to come whereas air travel demand is expected to demonstrate
resilience in spite of the headwinds in the external environment. Overall, the outlook for the
airlines remains positive, with the recent moderation in oil
prices providing some relief to operating expenditure even though
the industry will continue to face inflationary cost pressures.
Against this background, the region’s airlines are focusing their
attention on disciplined cost management throughout the business
while maintaining excellent safety and customer service
standards.”
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