Airlines from the Asia-Pacific region continued to record encouraging growth in international passenger and cargo markets in February, according to the latest traffic figures from the Association of Asia Pacific Airlines (AAPA).
The regional grouping said growth was underpinned by positive business and consumer sentiment across major advanced and emerging market economies.
The region’s airlines carried a combined total of 28 million international passengers in February, a firm 7.7% increase compared to the same month last year, boosted by an increase in leisure travelers during the Chinese New Year festive period. Passenger demand grew by 8.9% on the back of growth in long-haul travel markets.
Buoyant demand in Asian economies, coupled with further expansion in export activity, contributed to further growth in trade activity in the region. Correspondingly, the region’s carriers registered a 7.3% increase in air cargo volumes in February.
During the first two months of the year, Asian airlines carried a total of 57.5 million international passengers, representing a 4.9% increase compared to the corresponding period last year.
“Positive global economic conditions, with firm business confidence levels helped boost premium class markets, whilst continued availability of affordable airfares encouraged growth in the economy class segment,” Andrew Herdman, AAPA director general, said.
Over the same period, robust manufacturing activity boosted air cargo volumes, with Asian airlines registering an encouraging 8.2% increase in air cargo demand during the first two months of the year.
Looking ahead, Herdman added, “The ongoing positive global economic momentum provides continued optimism for further expansion in the aviation markets in the coming months.”
Nevertheless, the recent rise in protectionist rhetoric poses some risks to trade and business activity, he cautioned.
Decent global cargo growth in Jan-Feb
Meanwhile, WorldACD said that given the aftermath of Chinese New Year, which fell on February 16, 2018, worldwide year-over-year cargo volume growth in February registered at 4.4%, way below January growth, resulting in a combined growth for the year’s first two months of 6.95% year-on-year.
This is a good start to the year by any standard except the extraordinary year 2017, said the air cargo data provider.
The origins Asia-Pacific and Americas grew more than average in these two months, booking 9.3% and 8.4% year-on-year, respectively.
Europe, Central & South America, and Africa were the best destinations, growing 9.5%, 8.5%, and 8.4% year-on-year, respectively.
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