As pent-up demand continues to drive international air travel, Asia Pacific airlines carried 12.1 million passengers in October, an eight-fold increase versus the 1.4 million in the same month last year, according to the Association of Asia Pacific Airlines (AAPA).
Overall, passenger traffic volumes reached 38.6 percent of pre-pandemic levels and average international passenger load factor more than doubled to 77.7 percent for the month.
Demand, as measured in revenue passenger kilometres (RPK), surged by 604.7 percent year-on-year, outpacing the 194.3 percent expansion in available seat capacity.
Meanwhile, international air cargo demand declined markedly by 13.9 percent year-on-year in freight tonne kilometres (FTK) terms, amid a downturn in export markets for intermediate goods.
Offered freight capacity fell marginally by 1.2 percent year-on-year, leading to a 9.6 percentage point fall in the average international freight load factor to 64.7 percent.
“The lifting of travel restrictions in North East Asia in October 2022 was welcomed by the travelling public and the region’s airlines which saw substantial improvements to load factors," remarked AAPA Director General Subhas Menon.
"Overall, during the first ten months of the year, the combined 74 million international passengers carried by Asian airlines represented a 472 percent increase compared to the previous corresponding period. By contrast, air cargo markets moderated even more as a result of multiple headwinds," he noted.
"Declining business confidence, against a backdrop of rising risks to the global economy, led to a slowing in orders for manufactured goods, in turn driving a 5.5 percent year-on-year decline in air cargo demand for the first ten months of the year,” Menon elaborated.
The outlook for travel remains positive in the final months of 2022, he underscored.
"While the recovery in air travel is welcome relief for the industry, the region's airlines are facing a challenging operating environment, as a result of high fuel prices, weak local currencies and manpower shortages," Menon added. "Nevertheless, AAPA remains committed to ensuring the safe, seamless and sustainable restoration of air travel," he also said.