Asia Pacific Airlines See Strong Growth in Nov 2024
Traffic figures released by the Association of Asia Pacific Airlines (AAPA) for November 2024 highlight continued robust growth in both international air passenger and cargo markets. This surge is driven by sustained consumer and business demand, reflecting the region’s resilience and recovery in the aviation sector.
In November 2024, Asia Pacific carriers collectively handled 31 million international passengers, marking a significant 19.8% increase compared to the same month in 2023. This growth is particularly noteworthy given the challenging global aviation landscape. The average international passenger load factor also saw a solid rise of 2.7 percentage points, reaching 82.0% for the month. This improvement comes alongside a substantial 17.6% expansion in available seat capacity, underscoring the region’s ability to meet increasing travel demands efficiently.
The air cargo segment also experienced notable growth, with shipment volumes driven by sustained e-commerce demand and the front-loading of export orders in anticipation of upcoming US tariff hikes. International air cargo demand, measured in freight tonne kilometers (FTK), increased by 10.5% year-on-year, slightly outpacing the 10.0% rise in offered freight capacity. Consequently, the average international freight load factor edged up by 0.2 percentage points to 62.3% for November 2024.
Subhas Menon, Director General of AAPA, commented on the positive trends, stating, “Asia Pacific airlines have led growth in international travel markets this year, benefiting from strong demand for both business and leisure travel. Demand has now fully recovered to pre-pandemic levels.” Menon highlighted that for the first eleven months of 2024, the region’s carriers recorded a 31% increase in the number of international passengers carried, reaching a combined total of 334 million.
Menon also emphasized the healthy growth in the air cargo markets during November 2024, attributing it to increased demand ahead of the year-end holiday season. This demand was further bolstered by persistent operational challenges in maritime shipping and anticipated US tariff hikes, contributing to a strong 14% year-on-year increase in cargo for the first eleven months of the year.
Looking ahead, Menon remains optimistic about the future of the Asia Pacific aviation sector. “Based on current trends, 2024 is anticipated to conclude on a positive note for both passenger and cargo markets. However, uncertainty about the global economy and supply chain disruptions pose challenges to the region’s carriers. Asia Pacific airlines remain well poised to navigate these challenges whilst maintaining the highest safety and service standards,” he added.
The impressive performance of Asia Pacific airlines in November 2024 is a testament to the region’s strategic investments in fleet expansion, enhanced operational efficiencies, and strong partnerships. Airlines have leveraged these strengths to capitalize on the rebound in travel demand, ensuring they can accommodate the increasing number of passengers and cargo shipments effectively.
Furthermore, the rise in passenger load factors indicates that airlines are successfully managing their capacity to match the growing demand, optimizing flight schedules, and enhancing passenger experiences. The steady growth in air cargo also highlights the critical role of aviation in supporting global trade, particularly in an era where e-commerce continues to dominate consumer behavior.
As the aviation industry continues to evolve, Asia Pacific airlines are expected to maintain their growth trajectory by focusing on sustainability, technological advancements, and expanding their route networks. These efforts will not only support the ongoing recovery but also position the region as a key player in the global aviation market.
The traffic figures for November 2024 demonstrate that Asia Pacific airlines are experiencing significant growth in both passenger and cargo sectors. With a strong foundation built on resilient demand, strategic capacity management, and continuous improvement, the region’s carriers are well-equipped to face future challenges and sustain their upward momentum in the competitive aviation landscape.
Related News : https://airguide.info/?s=Asia+Pacific+Airlines, https://airguide.info/category/air-travel-business/airline-finance/