October 02, 2024
Preliminary August 2024 traffic figures released by the Association of Asia Pacific Airlines (AAPA) revealed robust growth in international air passenger and air cargo demand.
On the back of the region's resilient economic growth, Asia Pacific airlines collectively carried 32.3 million international passengers in August, reflecting a 21.7% year-on-year increase compared to the same month last year. Traffic in the region had nearly resumed to pre-pandemic levels, at 96.1% of 2019 volumes.
Despite signs of moderation in the broader manufacturing sector, the surge in e-commerce demand out of the major manufacturing hubs in the region drove air cargo volumes higher. International air cargo demand, as measured in freight tonne kilometres (FTK), recorded a 12.2% year-on-year increase, outpacing the 10.4% expansion in offered freight capacity.
As a result, the average international freight load factor rose by 0.9 percentage points to 59.6% for the month, marking the fourth consecutive monthly increase after more than two years in decline.
Source: AAPA