Asia-Pacific leads global airline recovery amid ongoing supply chain concerns

In November alone, the region's airlines carried 31.04 million passengers at a load factor of 82.0%, up from 25.92 million at 79.3% in November 2023. Available seat kilometers grew by 17.6%, while revenue passenger kilometers increased by 21.7% year-on-year.

From January to November 2024, passenger numbers reached 333.7 million with a load factor of 81.5%, compared to 253.9 million at 80.9% during the same period in the previous year.

AAPA Director General Subhas Menon noted that Asia-Pacific airlines have led growth in international travel markets this year due to strong demand for business and leisure travel: "Based on current trends, 2024 is anticipated to conclude on a positive note for both passenger and cargo markets." However, he acknowledged challenges such as global economic uncertainty and supply chain disruptions but expressed confidence that Asia-Pacific airlines are well-prepared to handle these issues while maintaining safety and service standards.

In air cargo markets, e-commerce growth and export orders ahead of expected US tariff increases contributed to a rise in demand measured by freight tonne kilometers—up by 10.5% year-on-year—slightly outpacing a 10% increase in offered freight capacity.

According to schedules analyzer OAG's weekly capacity update released in late December for the week commencing December 16th, overall weekly capacity grew by 4.7%. Of this increase of approximately 21.8 million seats globally since last year’s corresponding week; Asia-Pacific accounted for nearly half with an addition of around nine-point-eight-million seats—a five-point-five-percent rise over last year's figure—making it now responsible for thirty-nine percent of global seat capacity surpassing other regions like North America or Europe.