Falling fuel prices boost Asian air traffic
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Airlines based in the Asia Pacific region recorded a 7.9% increase in international passenger traffic in 2015.
According to the latest data from the Association of Asia Pacific Airlines (AAPA), the region’s airlines carried a total of 276.3 million passengers on international routes last year. Average load factors increased by 1.4 percentage points to 78.4%.
The AAPA said demand was boosted by lower oil prices, which led to “the widespread availability of competitive airfares”.
“The region’s carriers enjoyed a year of strong growth in international passenger numbers, up 7.9% for 2015, and well ahead of the 4.9% increase recorded the year before,” said Andrew Herdman, director general of the AAPA.
“Long-haul travel markets prospered on the back of an improvement in economic conditions in selected advanced economies. In addition, Asian regional travel demand grew solidly, despite slowing economic growth and regional currency weakness.”
Herdman added that while airlines benefited from falling in oil prices in 2015, competitive market conditions, currency volatility and other factors continued to impact profitability.
Looking ahead, Herdman noted; “The outlook for air travel markets in 2016 remains broadly positive, although there are some significant risk factors to consider, including increased uncertainty over the regional economic outlook. Asian airlines are closely monitoring market developments, whilst continuing to invest in future growth opportunities.”
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