PRELIMINARY March 2024 traffic figures released by the Association of Asia Pacific Airlines (PA) showed a continuation of robust growth in both international air passenger and air cargo demand, reports Sydney's Asian Aviation.
This is in line with a steady expansion in global economic activity, the PA said.
'March saw another healthy expansion in both passenger and cargo markets, culminating in a strong first quarter performance for 2024,' said PA director general Subhas Menon.
'International air cargo traffic witnessed a solid 16 per cent year-on-year increase during the same period, signaling that the full recovery of the Asia Pacific airline industry is well within sight,' Mr Menon said.
Reflecting positive business and consumer sentiment, the region's carriers carried a combined total of 28.2 million international passengers in March, a 37.5 per cent increase from the 20.5 million recorded in the same month last year.
Traffic averaged 86.8 per cent of 2019 volumes. As measured in revenue passenger kilometres (RPK), demand rose 38.6 per cent year on year, with available seat capacity increasing in equal measure. As a result, the international passenger load factor at 82 per cent, remained unchanged from the previous corresponding month.
In March, manufacturing orders ramped up, driving an uptick in trade activity. The rise in exports, in part propelled by the dynamic e-commerce sector, bolstered air cargo markets.
This led to a strong 15.3 per cent year-on-year increase in international air cargo demand in freight tonne kilometres (FTK) for the month.
The average international air freight load factor edged 0.5 percentage points lower to 62.7 per cent in March, after accounting for a 16.2 per cent expansion in offered freight capacity.
Looking ahead, Mr Menon said: 'The potential alleviation of interest rates and inflationary pressures are expected to stimulate spending, thereby driving further growth in air travel and cargo markets in the upcoming months.'
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This is in line with a steady expansion in global economic activity, the PA said.
'March saw another healthy expansion in both passenger and cargo markets, culminating in a strong first quarter performance for 2024,' said PA director general Subhas Menon.
'International air cargo traffic witnessed a solid 16 per cent year-on-year increase during the same period, signaling that the full recovery of the Asia Pacific airline industry is well within sight,' Mr Menon said.
Reflecting positive business and consumer sentiment, the region's carriers carried a combined total of 28.2 million international passengers in March, a 37.5 per cent increase from the 20.5 million recorded in the same month last year.
Traffic averaged 86.8 per cent of 2019 volumes. As measured in revenue passenger kilometres (RPK), demand rose 38.6 per cent year on year, with available seat capacity increasing in equal measure. As a result, the international passenger load factor at 82 per cent, remained unchanged from the previous corresponding month.
In March, manufacturing orders ramped up, driving an uptick in trade activity. The rise in exports, in part propelled by the dynamic e-commerce sector, bolstered air cargo markets.
This led to a strong 15.3 per cent year-on-year increase in international air cargo demand in freight tonne kilometres (FTK) for the month.
The average international air freight load factor edged 0.5 percentage points lower to 62.7 per cent in March, after accounting for a 16.2 per cent expansion in offered freight capacity.
Looking ahead, Mr Menon said: 'The potential alleviation of interest rates and inflationary pressures are expected to stimulate spending, thereby driving further growth in air travel and cargo markets in the upcoming months.'
SeaNews Turkey
