THE Association of Asia-Pacific Airlines (AAPA) said international freight and passenger market in the region remained robust in September, showing signs the recovery from the global economic crisis is for real.
Latest data from the AAPA showed international air cargo demand increased 18.5% in September year on year while passenger traffic improved 13.4%.
Freight capacity also expanded by 19.3%, resulting in a 0.5 percentage point decline in average international cargo load factor to 67.9%. Passenger seat capacity, on the other hand, grew 6.6%, or a 1.9 percentage point rise in the average international load factor to 79%.
AAPA director general Andrew Herdman said Asian economies have been leading the way out of the global downturn and this has resulted in a boost to fortunes of carriers across the region.
“Over the past nine months, we have seen a 14.6% increase in international passenger numbers, and an even more dramatic 30.2% growth in international cargo traffic, compared to the same period last year,” Herdman explained.
“Unlike some other regions of the world, Asian consumers are already displaying confidence in the future. At the same time, a broad-based pickup in business sentiment is evident in the marked recovery in demand for premium class seats, a segment of the market in which Asian carriers have traditionally excelled,” he said.
“Asian carriers have responded to these increases in demand with disciplined capacity and yield management, which has generally been rewarded by a welcome return to profitability, following two very difficult years for the industry.”
The overall outlook for Asian carriers remains generally positive in the next 12 months. A sustained growth in demand is also projected.
AAPA member airlines will discuss industry trends as well as policy and regulatory challenges at their annual assembly of presidents’ meeting in Brunei on November 4-5, 2010.
