An expanding global economy was one of the factors in a strong 2018 for Asia-Pacific airlines.
The first figures measuring airline traffic in the Asia-Pacific region indicate an increase in both passenger and cargo demand. Cargo demand slowed compared to a strong 2017, according to the association.
Overall, airlines operating in the region recorded a 7 per cent growth in international passengers carried. The total number of passengers ballooned to 356.6 million passengers in 2018. In terms of revenue passenger kilometre terms, demand recorded a 6.9 per cent growth. International cargo demand grew by 3.9 per cent in 2018.
Andrew Herdman, director general, Association of Asia Pacific Airlines, credits new routes and enhanced frequencies with the increase.
“International passenger traffic carried by Asian airlines grew by 7% in 2018, even stronger than the 6.4% growth achieved in the preceding year. New routes and frequencies provided more options to travellers, sustaining the growth in demand. In addition, whilst air fares rose in response to higher oil prices, ticket prices remained relatively affordable, capped by stiff competition,” Herdman said.
Despite strong growth in 2018, airlines in the region look toward potential pitfalls in 2019, namely eroding business sentiment and weak trade activity.
Are you concerned about the future of airline growth in the Asia Pacific region? Tell us. Email us at [email protected]. Please include your full name and location.
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