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APAC Air Travel Sees Further Recovery in 2023: AAPA

JET FUEL

Air travel recovery in APAC continued in 2023 amid robust growth in international passenger demand and loosening restrictions, according to Argus.

  • Airlines in APAC carried 278.5m international passengers in 2023, over double that of 2022, according to the Association of Asia Pacific Airlines data (AAPA).
  • Passenger numbers in 2023 averaged 72% of pre-pandemic levels in 2019. This compares to 28% in 2022.
  • APAC International passenger load factor returned to pre-pandemic levels to average 80.9%, up 8.7% on the year.
  • Demand for air freight in Asia also rose by 13.2% on the year in December 2023. However, air freight demand saw a year-on-year decline of 2.8%.
  • Air freight had seen pressure from inflation, a strong US dollar and growing trade frictions, but saw stronger growth towards the end of the year.
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