• Asia Pacific airlines carried 54 million international passengers in first quarter of 2023

    Asia Pacific airlines carried 54 million international passengers in first quarter of 2023

    Travel Biz News —

    Asia Pacific airlines carried a combined total of 54 million international passengers in the first quarter of 2023, well over six times the 8 million passengers recorded in the same period last year.

    Demand continues to be robust as remaining travel restrictions are lifted across the region.

    Preliminary March 2023 traffic figures released by Kuala Lumpur based Association of Asia Pacific Airlines (AAPA) showed international passenger demand remained solid, driven by the robust recovery in leisure and business travel in Asia and globally.

    The easing of travel restrictions, coupled with strong travel appetite, led to a 494.6% year-on-year increase in the number of international passengers carried which added up to 19.8 million altogether in March.

    “Asia Pacific carriers expect to see strong revenue growth this year even though increasing cost pressures, led by persistently high fuel prices, would erode the earnings margins. Asia Pacific carriers continue to focus on cost efficiencies whilst restoring flights to destinations in a bid to improve profitability,” said Subhas Menon, AAPA Director General.

    “However, air cargo markets declined by 13.1% during the same period, reflecting weakness in consumer demand amidst general inflationary pressures and rising economic uncertainty.”

    4 May 2023

    Photo : Cathay Pacific

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