As per information from the Asia Pacific Airlines Association, (AAPA), in the year 2015, Asia-Pacific carriers saw a rise, in International traffic, of 7.9% which is 276.3 million travellers and passengers. Asia-Pacific carriers carried more than 20 million international passengers additionally, which pushed up the sector’s growth rate to exceed the YOY i.e. year-over-year growth of 4.9 % in 2014, by three points.
The association said that the reduction in oil prices led to competitively reduced airfares in the airlines of the region, which boosted the rush of passengers.
Andrew Herdman, the Director General, AAPA, said that with improvements in the economic conditions of certain advanced economies, long distance travel markets also prospered. He added that in 2015, the demand of regional travel also saw a growth, in spite of the weaknesses in regional currency and the sluggish Asia-Pacific economy.
Herdman also said that less positively, the global trade’s slowdown left a reflection in the form of the marginal growth of markets of air cargo services in 2015.
Asia-Pacific airlines had a rise of 8.2% YOY, in international traffic, totalling to one trillion Revenue Passenger Kilometres (RPK) in 2015; the region’s capacity was 1280 billion i.e.1.28 trillion Available Seat Kilometres (ASK), rose 6.3% YOY. While the load factor of total passengers in the region was up to 1.4 points, coming in at 78.4%, YOY.
In 2015, Air cargo services rush in Asia-Pacific region saw a rise of 1.6% YOY i.e. up to 64.93 billion Freight Tonne Kilometres (FTK); there was an increase of 3.5% YOY in the air freight space/capacity i.e. up to 101.86 billion FTKs, which resulted into a 63.7% collective factor of freight load for the year 2015, 1.3 points down, YOY.
Herdman said: “Competitive market conditions continued to restrain margins [at Asian airlines]; airline profitability was … affected by currency volatility and variations in individual fuel hedging policies,” adding that “[But] the outlook for air travel markets in 2016 remains broadly positive, although there are significant risk factors … including increased uncertainty over the regional economic outlook.”
The figures by AAPA are provisional and based on the combined traffic data of 31 carriers that are Asia-Pacific-based.