Demand for the services of Asian airlines remains upbeat as they continue to focus on improvements in operational efficiency amid rising costs and highly competitive markets, according to the Association of Asia Pacific Airlines (AAPA).
“The overall demand outlook remains positive, although Asian airlines are operating in highly competitive markets and face rising cost pressures, with average jet fuel prices up 24 percent to $64 a barrel for the first 10 months of the year,” AAPA Director General Andrew Herdman said in a statement.
“Nevertheless, Asian airlines remain focused on implementing further improvements in operational efficiency and other cost-saving measures, while identifying new opportunities for revenue generation,” he added.
The number of international air passengers climbed 8.3 percent to 26.4 million in October. During the first 10 months of the year, Asia-Pacific airlines carried 262 million international passengers, representing a 5.7-percent increase, compared with the figure in the same period last year. International air cargo traffic demand, meanwhile, went up by 10.1 percent in the same period.
“The encouraging results mirror the current solid and steady expansion in the global economy. Airlines have responded by strengthening their networks. offering additional frequencies and adding new destinations,” Herdman said.
“At the same time, the rise in global economic activity has seen a sustained pick-up in global trade and the transportation of manufactured goods, with air cargo playing an important role in restocking global supply chains and the growth of e-commerce,” he added.