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AAPA reports 23.9% growth in May 2024 passenger traffic

Airplane Passenger Traffic

AAPA’s May 2024 data shows a 23.9% rise in international passengers, reflecting strong economic activity and growth in long-haul travel markets.

KUALA LUMPUR, MALAYSIA – Preliminary May 2024 traffic figures released by the Association of Asia Pacific Airlines (AAPA) showed solid expansion in international air passenger demand, in tandem with an acceleration in economic activity globally.

In May, the region’s airlines carried a combined total of 27.9 million international passengers, 23.9% more than in the same month last year. Traffic averaged 89.4% of 2019 levels. Measured in revenue passenger kilometers (RPK), demand grew by 27.4% year-on-year, reflecting strength in long-haul travel markets. After accounting for a 26.4% expansion in available seat capacity, the average international passenger load factor edged marginally higher, by 0.6 percentage points to 79.0% for the month.

Commenting on the results, Mr. Subhas Menon, AAPA Director General said, “In the first five months of the year, Asia Pacific airlines carried a total of 144 million international passengers, reflecting a 44.8% increase compared to the previous corresponding period.”

Looking ahead, Mr. Menon said, “Encouraging trends in passenger traffic bode well for Asian airlines this year, following strong traffic performance for the year 2023. However, profit margins remain under pressure, with operating costs impacted by the strong US Dollar and jet fuel prices averaging above the US$100 per barrel mark during the first five months of the year. Overall, Asian airlines remain committed to maintaining stringent cost controls across their operations, alongside a proactive pursuit of growth opportunities.”

Vicky Karantzavelou
Co-Founder & Chief Editor - TravelDailyNews Media Network

Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.