Financial figures released by the Association of Asia Pacific Airlines point to newfound profitability for airlines in 2015. The USD 6.9 billion net profits come after net losses of USD 1.2 billion in 2014. The new profits are attributed to record high passenger loads and lower fuel prices. Asia Pacific airlines received an 8.3 per cent increase in international passenger traffic, as well as a 2.1 per cent increase in international air cargo traffic. Operating expenses decreased by 12.6 per cent and jet fuel prices decreased by 43.5 per cent, leading to profitability despite decreased operating revenues from 2014. “Asian carriers are encouraged by the sustained growth in passenger demand, but continue to face a challenging operating environment characterized by intense competition, cost pressures and volatile currency markets,” said Andrew Herdman, director general, Association of Asia Pacific Airlines. “Air cargo markets remain weak as a result of the slowdown in global trade. Nevertheless, taking a positive view of the future, Asia Pacific airlines are continuously reviewing their fleet and network development plans in line with evolving market trends, and introducing new customer service initiatives, while continuing to focus on disciplined cost management efforts.” The data for the released financial figures was compiled from 26 Asia Pacific-based carriers.