Airlines in the Asia-Pacific region achieved modest growth in 2012, largely a result of strong passenger demand as cargo sales continued to contract, according to the latest statistics from the Association of Asia Pacific Airlines (AAPA).

Regional airlines saw US$5.2 billion in combined net profits in 2012, up 6.7 percent from the $4.8 billion reported for 2011.

“Sustained growth in passenger markets helped mitigate a challenging operating environment marked by prolonged weakness in air cargo markets and persistently high jet fuel prices,” AAPA said in a statement.

Combined operating revenue in 2012 for the region’s carriers grew by 7.6 percent to reach $175 billion from $162.7 billion in 2011.

Passenger revenues improved to $133.5 billion for an 8.5 percent growth in demand in both business and leisure travel markets, particularly in the Asia-Pacific region.

Cargo revenues declined by 3.3 percent to $21.1 billion.

“Asia Pacific airlines in general recorded a modest improvement in their overall financial performance for 2012,” said Andrew Herdman, AAPA director general, as he forecast that growth this year will mostly still come from the passenger side.

 

Photo: contri

You May Also Like

‘K’ Line consolidates 2 subsidiaries, outlines recovery plan

Kawasaki Kisen Kaisha Ltd. (“K” Line) announced it will merge two of its subsidiaries as it seeks a return to profitability and strives to…

ICTSI Manila gets four new yard cranes

International Container Terminal Services, Inc (ICTSI) recently took delivery of four new rubber–tired gantry cranes (RTGs) for its flagship Manila International Container Terminal (MICT).…

February brings heartbreak to air cargo carriers

Asia-Pacific carriers witnessed air cargo volumes contract by more than 12% in February, posting the biggest regional drop for the month, according to the…

15 infra programs key to PH connectivity to rest of ASEAN — WB

The World Bank pinpointed 15 infrastructure projects worth P495.84 billion under the government’s public-private partnership (PPP) scheme that it said are essential for the…