Free Trial

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.
130 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

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.